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., This news data comes from:http://www.gangzhifhm.com
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
- Alice Guo faces new cases over POGO land
- Customs officials, employees who aided Discayas will not be spared — Customs chief
- Sen. Bong Go files bill for better health worker protection, benefits
- Alex Eala makes history With comeback victory at US Open
- Japan PM Ishiba bounces back in polls after election debacle
- Tokyo logs record 10 days of 35 C or higher
- Filipino member of AHOF K-pop group says Manila concert a dream come true
- Marcos expresses support for ‘beleaguered’ Cabinet members
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
- US agents arrest 475 in Hyundai-LG plant raid
