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.
Marcos signs mining tax regime law, This news data comes from:http://www.redcanaco.com
- Israel military says controls 40 percent of Gaza City
- House justice panel to probe US' extradition request for Quiboloy
- Israel ups pressure on Gaza City as Trump talks post-war plan
- Protesters storm Discaya compound, Sotto calls for calm
- NATO members to reach 2% defense spending goal this year
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Nartatez vows to be fair in making reassignments
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- Mass housing developers laud Pag-IBIG Fund
- Gomez-Estoesta named court administrator by Supreme Court
