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
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., This news data comes from:http://dffgk.yamato-syokunin.com
- Xi says China 'unstoppable' in parade opening speech
- Trump hails Department of War rebrand as 'message of victory'
- New mining law to balance profit, ecology
- DBP launches P50M program for education
- Made in China? The remarkable tale of Venice's iconic winged lion
- 175th birth anniversary of Marcelo H. Del Pilar commemorated in Manila
- US approves .5M in assistance to Nigeria to help address hunger
- Napolcom welcomes Nartatez’s move to recall Torre’s reassignments
- Konektadong Pinoy Bill has lapsed into law — Palace
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
