MANILA, Philippines — President Ferdinand Marcos Jr. on Thursday signed into law a measure that seeks to modernize the country’s mining fiscal regime.
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.
Marcos signs mining tax regime law
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://gangzhifhm.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.
Marcos signs mining tax regime law
- Lone bettor wins P86M in 6/42 lotto draw for Sept 6
- Task force cites new threats to media workers
- PH Army showcases disaster response capabilities before Thai defense officials
- Eight towns in Cotabato cancel classes on Monday
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- President Marcos to attend 80th UN General Assembly in New York
- Gasoline, diesel prices to increase by P1 next week
- Madagascar welcomes home skulls of Indigenous warriors taken by French colonial troops 128 years ago
- House probe tackles flood control corruption: Lawmakers disclose conflicts of interest
- ‘Large shark’ kills man off Sydney beach
