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., This news data comes from:http://www.redcanaco.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.
Marcos signs mining tax regime law
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Thailand's ex-PM Thaksin acquitted in royal insult case
- Giovanni Lopez pledges to continue and expand DOTr reforms
- Repairs on Chinese ship in Bajo de Masinloc collision may take 2 months - PH Navy
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
- 'Blood Moon' to rise during total lunar eclipse Sunday night
- Japan prince comes of age as succession crisis looms
- Fire breaks out in Manila residential area
- BuCor chief calls for major reforms
