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., This news data comes from:http://mfebq.erlvyiwan.com
Marcos signs mining tax regime law
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.
- Typhoon death toll rises in Vietnam as downed trees hamper rescuers
- Public Works chief to press criminal charges against Bulacan engineer
- Villanueva: Regularize contractual govt workers
- Tourists dice with danger on Hanoi's train street
- Hontiveros urges probe on Chinese faking Filipino identity
- BuCor chief calls for major reforms
- India will not 'bow down,' trade minister says after US tariffs
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
- Lacson clears air over conflict with Marcoleta on flood control probe
