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://www.052298.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.
Marcos signs mining tax regime law
- Xi and Putin reaffirm 'old friend' ties in the face of US challenges
- Giovanni Lopez pledges to continue and expand DOTr reforms
- UK, Japan, South Korea endure hottest summer on record
- 15 people hospitalized after double-decker bus crashes outside London's Victoria Station
- Malabon averts crisis with garbage deal
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
- Customs officials, employees who aided Discayas will not be spared — Customs chief
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
- Filipino member of AHOP K-pop group says Manila concert a dream come true
- Fears of new political crisis grip France
