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://052298.com
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
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
- DOJ indicts Abra Mining for fraudulent trading
- Chinese research vessel spotted near Philippine coast but 'goes dark' after, says maritime expert
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- Trump moves to end US tariff exemption for small packages
- 'Isang' leaves PAR, storm signals lifted - Pagasa
- Chery Tiggo survives Creamline in cardiac five-setter in PVL Invitationals
- LPA may still develop into short-lived tropical cyclone
- Indonesia protests put spotlight on paramilitary police force
- La Niña may return but temperatures will remain high, UN says
- MMDA inks deal with DBM for G-3 program
