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://jgig-mv-hl-eljw.gangzhifhm.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.
- DPWH told to build evacuation centers
- Oil firms to raise fuel prices this week
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Ballots for oct 13 BARMM polls completed – Comelec
- PAL plane bound for Osaka returns to Manila due to 'emergency' situation
- PNP chief supports lowering age of discernment
- Trough of LPA, ‘habagat’ will bring rain showers, thunderstorms across PH
- DBP launches P50M program for education
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
