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., This news data comes from:http://yamato-syokunin.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.
Marcos signs mining tax regime law
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.
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- DPWH chief rejects calls to resign as he vows to probe corruption in flood control projects
- South Africa's most vulnerable struggle to find HIV medication after US aid cuts
- Australia government condemns anti-immigration rally in Sydney
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- China 'unstoppable', says Xi with Kim, Putin at his side
- US senators to reinforce 'partnership' with Taiwan
- Thai opposition's kingmaking summit fails to back new PM
- Prompt release of educational aids sought
- New law lets foreigner investors lease land for 99 years
