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.jyxingfa.com
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.
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.
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- SpaceX scrubs latest Starship launch due to bad weather
- Public Works chief to press criminal charges against Bulacan engineer
- Gaza at 'breaking point,' says UN food agency chief after visit
- Marcos confers diplomatic merit award on two ambassadors
- Filipino fulfills dream of performing with K-pop group before home fans
- De Lima bucks Lacson's budget 'experiment
- Surfacing of WPS features ‘likely’ natural occurrence, not due to dumped crushed corals
- Lacson: Senators not exempt from scrutiny in ghost flood control project scandal
- Filipino member of AHOF K-pop group says Manila concert a dream come true
