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, This news data comes from:http://ilc-web-tkk-xhfs.aichuwei.com
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.
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.
- UN declares famine in Gaza, blames Israel
- IBP to form good governance panel
- Putin and Modi in China for summit hosted by Xi
- Public Works chief to press criminal charges against Bulacan engineer
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Vico Sotto's viral post sparks ethics debate, elicits response from journalists
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
- La Salle vows to help ease Ortigas traffic
- Can a giant seawall save Indonesia's disappearing coast?
- Thai opposition holds kingmaking summit deciding new PM
