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., This news data comes from:http://www.771bg.com
Marcos signs mining tax regime law
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.
- Floods kill over 30 in Indian-controlled Kashmir, displace 150,000 in east Pakistan
- Indonesia turns down ear-splitting 'haram' street parties
- Globe: Mobile data helps drive national progress
- Mexican boxer Chavez Jr. released from prison pending trial
- IBP forms committee on good governance to probe corruption
- DOJ indicts Abra Mining for fraudulent trading
- House bill seeks to regulate AI use
- Dizon asks DOJ to issue immigration lookout bulletin to 26 DPWH officials and contractors
- Australia expels Iran ambassador over antisemitic attacks
- ChatGPT to get parental controls after teen's death
