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, This news data comes from:http://ycyzqzxyh.com
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
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.
- US Spirit Airlines files for bankruptcy again
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- New Zealand to allow some wealthy foreign investors onto property market
- Taiwan, China locked in historical word war
- Former DPWH chief denies links to corruption
- Maduro hits ‘illegal’ US troops deployment
- Mexican boxer Chavez Jr. released from prison pending trial
- ₱1.7M shabu seized in Taguig buy-bust
- Budget shortfall narrows in July
- Comelec to resume BARMM polls ballot printing Thursday
