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., This news data comes from:http://bscg-wcdh-xt-cny.771bg.com
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.
Marcos signs mining tax regime law
- 'I have no resentment,' says Torre after dismissal as PNP chief
- Discaya companies' licenses revoked for bid-rigging
- Marcos names Dizon as DPWH secretary
- Xi says China 'unstoppable' in parade opening speech
- Thousands protest in Nepal over social media ban, corruption
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- 1 in 4 people lack access to safe drinking water — UN
- Follow the trucks: Why investors are looking south of Metro Manila
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Trump threatens Russia with sanctions after biggest aerial attack on Ukraine
