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://yamato-syokunin.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.
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, first lady visit Cambodia to boost ties
- Trump tells Europe to put economic pressure on China over Ukraine
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- Unnamed skeletons? US museum at center of ethical debate
- Maduro hits ‘illegal’ US troops deployment
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- House suspends DPWH budget deliberations pending submission of changes by agency, DBM
- No winner in lotto draws for Aug 30
- Marcos Jr. seeks 'fair, impartial' Ombudsman - Palace
