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.
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, This news data comes from:http://ycdeiu.erlvyiwan.com
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.
- SpaceX cancels Starship megarocket launch in latest setback
- NATO members to reach 2% defense spending goal this year
- EU massive fine against Google draws Trump threat
- Israel military says controls 40 percent of Gaza City
- China's Communist rulers push party role before World War II anniversary
- Malacañang hits back at VP Duterte's criticism on flood scam probe
- Lacson seeks probe of 2 PH contractors' board members for conflict of interest
- LPA off Leyte has low chance of becoming cyclone within 24 hours —Pagasa
- Labubu fans flock to stores after launch of mini dolls
- Afghanistan earthquake kills more than 800
