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.
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://noh-qbv-mymn-ul.gyglfs.com
- DFA: No US extradition request for Quiboloy
- Pagasa: Rainy Monday over Visayas, Luzon areas due to LPA, 'habagat'
- Supreme Court urged to act on fake complaints
- Ukraine offers to co-produce drones with Philippines for maritime patrols
- Scramble for survivors as Afghan earthquake death toll passes 1,400
- House committee subpoenas Sarah Discaya, 4 other contractors over flood control project anomalies
- WorldSkills Asean Manila begins
- Motive probed for US shooting that killed two children, injured 17
- Sri Lanka's jailed ex-president Wickremesinghe granted bail
- Sarah Discaya grilled by Senate over alleged DPWH links
