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.
Marcos signs mining tax regime law, This news data comes from:http://www.redcanaco.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.
- France seized by fears of new political crisis
- Marcos suspends importation of regular, well-milled rice for 60 days
- Thailand's Parliament to vote Friday for a new prime minister
- GoTyme gives customers 20 free InstaPay transfers per month
- Iran says open to US nuclear talks, rejects missile curbs
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Marcos urged to raise WPS resolution at UN
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Fears of new political crisis grip France
- Marcos orders full budget review for DPWH amid ghost projects scandal
