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.
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., This news data comes from:http://heqteo.redcanaco.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.
- DFA: No US extradition request for Quiboloy
- Japan PM Ishiba bounces back in polls after election debacle
- PH, Japan conduct search and rescue exercises
- No winner in lotto draws for Aug 28
- DOTr denies ordering shutdown of online selling platforms
- Marcos to youth: Help in nation-building
- Wife and ally of ousted SKorean president indicted by special prosecutors
- New law lets foreigner investors lease land for 99 years
- Australia expels Iran ambassador over antisemitic attacks
- Marcos soon to create commission to probe flood control projects
