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.
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., This news data comes from:http://052298.com
Marcos signs mining tax regime law
- Japan pledges continued support for Philippine development projects
- Thai Court: PM Shinawatra violated ethics rules
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- Japanese volunteers to PH 'bedrock' of bilateral relations, says envoy
- Transport chief pushes shame campaign vs errant motorists
- PNP disputes China's crime advisory, says Philippines crime rate dropped
- Indonesia turns down ear-splitting 'haram' street parties
- Labubu fans flock to stores after launch of mini dolls
- 'New' position being offered to Torre — Palace
- Duterte defense files more motions challenging ICC prosecutor
