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.
Marcos signs mining tax regime law
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://705-888.com
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
- Sen. Hontiveros pushes for Philippine Geriatric Center to aid seniors
- Kneecap to play Paris concert in defiance of objections
- Marcos orders lifestyle checks on all government officials amid flood control probe
- CFO moves office from QC to Pasay
- Cusi charged over Malampaya deal
- PH, Australia commend ‘impressive’ joint sea drills
- New Zealand to allow some wealthy foreign investors onto property market
- ‘Gomez ignorant of how media works’
- NATIONAL ARTIST'S HOMETOWN
- Discaya companies' licenses revoked for bid-rigging
