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://jdn-rojd-onk-tn.ycyzqzxyh.com
Marcos signs mining tax regime law
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 wants subpoena power for body investigating flood projects
- DOJ indicts Abra Mining for fraudulent trading
- Trump moves to end US tariff exemption for small packages
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- Japanese volunteers to PH 'bedrock' of bilateral relations, says envoy
- Rise in HFMD cases due to better reporting, not outbreak
- Undersea cables cut in the Red Sea, disrupting internet access in Asia and the Mideast
- Malaysia warns TikTok vs cyberbullying, deepfakes
- Islamic State claims deadly attack on Pakistan rally
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
