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.
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, This news data comes from:http://www.yamato-syokunin.com
- Search for survivors after Afghan earthquake kills 800
- Palace slams Discaya couple's denial in Film Heritage Building debacle
- Israeli army: Gaza City now 'a dangerous combat zone'
- ERC amends net-metering rules to expand renewable energy options
- UK, Japan, South Korea endure hottest summer on record
- 25 countries suspend postal services to US over tariffs – UN
- ‘New NBI chief must be career official’
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- PH has chance of getting UNSC seat - Manalo
- Labubu fans flock to stores after launch of mini dolls
