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.
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., This news data comes from:http://www.771bg.com
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.
- Comelec upholds cancelation of Duterte Youth registration
- EU massive fine against Google draws Trump’s ire
- US strike marks shift to military action against drug cartels
- Govt eyes charges vs Discayas over 'unfinished' PH Film Heritage Building
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- Tensions soar in Indonesia as protests over police brutality and lawmakers' allowances continue
- UK's mass facial-recognition roll-out alarms rights groups
- India to probe giant zoo run by son of Asia's richest person
- PTFOMS and CHR sign agreement to improve Filipino media workers' safety
- Marcos lauds Alex Eala’s win in Guadalajara
