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://www.771bg.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.
- Putin vows not to back down in Ukraine
- ‘Isang’ decelerates as it crosses Quirino, to exit PH Saturday — Pagasa
- Filipino weightlifter Vanessa Sarno banned for 2 years for anti-doping violation
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- 'God's Influencer' to become first millennial saint
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- PH Defense chief slammed for 'bad mouthing' China
- Cusi charged over Malampaya deal
- PH has chance of getting UNSC seat - Manalo
- Wildfires producing 'witches' brew' of air pollution – UN
