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.
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, This news data comes from:http://705-888.com
- SC acquits suspect in 2012 killing of Dutch aid worker over doubtful testimonies
- Marcos mum on Magalong joining independent commission for DPWH probe
- Customs preparing report on Discayas’ 28 luxury cars
- Motive probed for US church shooting that killed 2 children, injured 17
- Israel expects 1 million Gazans to flee new offensive
- Modi and Putin affirm special relationship as India faces steep US tariffs over Russian oil imports
- US agents arrest 475 in Hyundai-LG plant raid
- China's Xi holds talks with North Korea's Kim in Beijing
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- 3 Luzon dams release water
