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.
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., This news data comes from:http://krop-nhu-pgy-omi.771bg.com
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.
- La Niña may return but temperatures will remain high, UN says
- NHA gives cash aid to families affected by calamity in Manila
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- House resolution filed to investigate 'funders' of anomalous projects
- Cyclone's trough, habagat will bring cloudy skies, rain showers over PH
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- UN force in Lebanon slams Israeli drone attack on peacekeepers
- DPWH to revisit budget, to complete revisions within 2 weeks
- Comelec defers reconstitution of BARMM parliamentary districts
- Xi slams 'bullying' in speech to regional leaders at summit
