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.
Marcos signs mining tax regime law
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://www.yamato-syokunin.com
- Comelec defers BARMM district reconstitution
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- NKorea accuses South of ‘serious provocation’
- Alice Guo faces new cases over POGO land
- Portugal mourns after Lisbon streetcar accident kills 15
- Bonoan freezes DPWH travel passes
- Marcos, first lady visit Cambodia to boost ties
- Afghanistan earthquake kills more than 800
- Iran says open to US nuclear talks, rejects missile curbs
- Co out of country for medical reasons
