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, This news data comes from:http://ew-chvb-qp-pgo.yamato-syokunin.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.
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
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- LPA trough, 'habagat' to bring rains in parts of Luzon, including Metro Manila
- UK, Japan, South Korea endure hottest summer on record
- First millennial saint: Vatican to canonize 'God's Influencer' Carlo Acutis
- 2028 polls overseas voter registration opens in Dec
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
- Macron says 26 countries pledge troops as a reassurance force for Ukraine after war ends
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- 'God's Influencer' to become first millennial saint
