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.
Marcos signs mining tax regime law, This news data comes from:http://jyxingfa.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.
- 13 massage therapists robbed, 2 cry rape
- ‘Large shark’ kills man off Sydney beach
- PH, Australia hold live fire drills during ALON 2025 in Nueva Ecija
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- PNP enlists Interpol help in hunt for Japanese mastermind behind Manila double murder
- Kilauea's eruption is back as the Hawaii volcano shoots lava for the 31st time since December
- Argentine police recover Nazi-looted painting spotted in property ad
- Co out of country for medical reasons
- UN food agency chief says women and children are starving in Gaza and pressed Netanyahu on aid
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
