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.
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., This news data comes from:http://www.xs888999.com
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 signs mining tax regime law
- Duterte Youth brings Comelec cancelation battle to Supreme Court
- 'No way' US troops can invade Venezuela, says Maduro
- China to bolster non-Western alliances at summit, parade
- Plea written in blood saves Chinese woman trapped in locked room
- Corruption crackdown: VP Sara Duterte, lawmakers call for deeper probe into government
- Fears of new political crisis grip France
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
- PH’s newest warship arrives in Manila, joins BRP Jose Rizal, BRP Gabriela Silang
- DPWH exec asked lawmaker to make budget insertions — Lacson
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
