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, This news data comes from:http://thqbd.052298.com
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.
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.
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- Kneecap to play Paris concert in defiance of objections
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
- Wife and ally of ousted SKorean president indicted by special prosecutors
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- SSS pension reform program starts in September
- MMDA asks LTO to sanction motorist in altercation with traffic enforcer in San Juan
- Israeli defense minister warns of Gaza City's destruction unless Hamas yields to his country's terms
- Construction managers, developers back Housing chief's anti-corruption advocacy
- N. Korea test-fires two 'new' air defense missiles
