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., This news data comes from:http://qaji-krqj-cdug-dccq.705-888.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.
Marcos signs mining tax regime law
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.
- Sen. Go calls for round-the-clock DFA support for OFWs welfare
- Gasoline, diesel price hikes seen next week
- Marcos to attend UN meet in New York in Sept- Palace
- La Niña forecast from Sept-Dec, expect more tropical cyclones, above normal rainfall -- Pagasa
- Napoles guilty in another 'pork barrel' case, sentenced to 55 years in jail
- Discayas to file raps vs protesters, will attend Senate hearing — lawyer
- Cooperatives group lauds Konektadong Pinoy Law as milestone in digital inclusion
- N. Korea test-fires two 'new' air defense missiles
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- Humanoid robots showcase skills at Ancient Olympia. But they're on a long road to catch up to AI
