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., This news data comes from:http://www.705-888.com
Marcos signs mining tax regime law
- Motorist in San Juan traffic spat faces sanction
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Go seeks more support for Filipino athletes
- Makati earns high rating in anti-trafficking and violence assessment
- PH economic losses hit 100B from corruption in flood control projects
- DOJ indicts Abra Mining for fraudulent trading
- Pagasa: Trough of LPA, 'habagat' will bring rain, thunderstorms across PH
- House holds budget review with 21 civil society organizations
- Seoul says fired warning shots after North Korean troops crossed border
- UK's mass facial-recognition roll-out alarms rights groups
