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.
Marcos signs mining tax regime law, This news data comes from:http://052298.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.
- Macron's decision to recognize Palestinian state angers Israel and the US
- Boy killed, mother injured in Pasig fire
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- Government work, classes on Tuesday suspended due to bad weather
- Customs recovers 10 more Discaya luxury cars
- Marikina City chief of police relieved
- La Niña may return but temperatures will remain high, UN says
- Petitioners challenge claim NAIA fees lowest in Southeast Asia
- US warship heading toward Caribbean Sea
- Thailand set for vote on new PM after dissolution bid rejected
