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., This news data comes from:http://fxbldcj.771bg.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.
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.
- Two dead as strong earthquake jolts Afghanistan
- Oil firms to raise fuel prices this week
- Marcos 'ready' to undergo lifestyle check- Palace
- Marcos orders full budget review for DPWH amid ghost projects scandal
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
- Comelec upholds cancelation of Duterte Youth registration
- Task force cites new threats to media workers
- Thai court to rule on PM's fate after Hun Sen call leak
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- Earthquake in eastern Afghanistan kills at least 610 people and injures 1,300
