MANILA, Philippines — President Ferdinand Marcos Jr. on Thursday signed into law a measure that seeks to modernize the country’s mining fiscal regime.
Marcos signs mining tax regime law
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://www.gyglfs.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
- Aftershocks rumble quake-hit Afghanistan as death toll tops 1,400
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- MMDA prepares for PH hosting of FIVB
- Washington makes military aid overtures to Sahel juntas
- Can a giant seawall save Indonesia's disappearing coast?
- Thailand’s next PM reaffirms fresh polls promise
- Sarah Discaya grilled by Senate over alleged DPWH links
- Trump withdraws Kamala Harris's Secret Service protection
- PCG seeks to expand drone use to maritime patrols, law enforcement
- Over 800 killed as quake rocks Afghanistan
