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.
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://jyxingfa.com
Marcos signs mining tax regime law
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.
- Immigration deports 49 South Korean fugitives
- Pope Leo XIV to Israeli president: 2-state solution needed to end Gaza war
- 15 companies vie for 'Sustainability Champions' award
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- SC orders comment on petitions vs polls
- Pangilinan urges Marcos Jr. to prioritize bill aiding farmers, fishermen
- VP Sara lauds Filipino heroes
- Israel flattens high-rise as it tells Gaza City residents to flee
- North Korea's Kim Jong Un travels to Beijing to watch military parade alongside Putin, Xi Jinping
- Rains over Metro Manila, parts of PH as LPA may develop into 'short-lived' tropical depression
