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.
Marcos signs mining tax regime law, This news data comes from:http://npoj-lsgh-ts-jmnp.xs888999.com
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.
- Isko files raps over demolition of sports complex
- Philippines presses call for ceasefire in Gaza
- Thailand acting PM moves to dissolve parliament — party
- NKorea accuses South of ‘serious provocation’
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- Brawner tells troops: Stop Chinese from entering Sierra Madre at all cost
- Hope dwindles for survivors days after deadly Afghan quake
- Sotto willing to testify in Senate probe of flood control anomalies if summoned
- Go seeks more support for Filipino athletes
- Trump withdraws Kamala Harris's Secret Service protection
