MANILA, Philippines — President Ferdinand Marcos Jr. on Thursday signed into law a measure that seeks to modernize the country’s mining fiscal regime.
Marcos signs mining tax regime law
The President signed Republic Act (RA) 12253 or the "Enhanced Fiscal Regime for Large-Scale Metallic Mining Act" in a ceremony in Malacañang.
The new law seeks to simplify and rationalize the fiscal regime for large-scale metallic mining, ensuring an equitable share of mining revenues for the government while upholding the principles of transparency, accountability and good governance in the mining industry.
Under the law, the estimated revenue impact from 2026 to 2029 is projected at P25.08 billion in total or an average of P6.26 billion per year., This news data comes from:http://ja.gyglfs.com
RA 12253, which is one of the priority measures of the Legislative-Executive Development Advisory Council, consolidates the provisions of House Bill 8937 and Senate Bill 2826.
- Puno seeks probe of anomalous projects ‘funders’
- WorldSkills Asean Manila begins
- ‘Isang’ decelerates as it crosses Quirino, to exit PH Saturday — Pagasa
- LPA east of Surigao del Sur may intensify into tropical depression
- Budget shortfall narrows in July
- India will not 'bow down,' trade minister says after US tariffs
- Shooting of Indonesian diplomat in Peru investigated as a contract killing
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- Thailand's suspended prime minister testifies over phone call that could get her booted from job
- Task force cites new threats to media workers
