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
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.
Marcos signs mining tax regime law
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://ndxyw.705-888.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.
- 'No way' US troops can invade Venezuela, says Maduro
- Cebu Pacific to launch direct flights between Cebu and Palawan
- US approves .5M in assistance to Nigeria to help address hunger
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- Fair weather in PH except for isolated downpours — Pagasa
- Guyana votes amid oil boom, Venezuela tensions
- UP journalism professor chides Rep. Gomez over ‘media spin’ claims
- 'Trump Whisperer' ex-minister joins Japan PM race
- Lone bettor wins P86M in 6/42 lotto draw for Sept 6
- Zelenskyy meets European leaders on Ukraine security guarantees
