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://vsng-io-tcaj-ib.yamato-syokunin.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.
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.
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.
- No winner in Ultra, Megalotto draws for Aug 29
- Go decries ‘irregularities’ in flood control projects
- DSWD allocates P6.2B for livelihood program
- SC clarifies rules on land ownership
- Lacson wants 1-year 'experiment' to break cycle of corruption in the budget process
- Duterte’s defense team outlines ICC strategy
- Indonesia protests put spotlight on paramilitary police force
- Russian drone, missile attack kills 14, injured 48 in Kyiv
- Gaza at 'breaking point,' says UN food agency chief after visit
- Drones take on Everest's garbage
