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.
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.705-888.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.
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- DSWD's guarantee letters now accepted in more establishments
- Seoul says over 300 South Koreans held in US battery plant site raid
- Inoue says taunts 'missed the target' ahead of world title clash
- Sara Discaya admits owning 28 luxury cars
- India to cut taxes on hundreds of consumer goods to boost local demand following steep US tariffs
- South Korean President vows support to Koreans arrested in US immigration raid
- Palace rejects China's 'troublemaker' tag
- Indonesia protests put spotlight on paramilitary police force
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
