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., This news data comes from:http://efrbtpbj.705-888.com
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
- Dizon to order DPWH officials to submit courtesy resignation
- Israeli protesters demand hostage deal as cabinet meets
- ChatGPT to get parental controls after teen's death
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Thailand set for vote on new PM after dissolution bid rejected
- P1.7-M shabu seized in Taguig buy-bust
- Plea written in blood saves Chinese woman trapped in locked room
- Marcos inspects rock shed project in Benguet
- Gasoline, diesel price hikes seen next week
- Gasoline, diesel prices to increase again next week
