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.
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.
Marcos signs mining tax regime law, This news data comes from:http://ye.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.
- Protesters storm Discaya compound for second straight day
- Marcos leads oath taking of new officers of League of Provinces of the Philippines
- Duterte lawyers take aim at ICC prosecutor
- Former president Duterte's health stable despite high blood sugar, says VP Sara
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
- 4 of 15 contractors on Marcos list have clean records – DPWH
- Australia's 'mushroom murderer' handed life in prison with parole
- Marcos lauds Filipinos for role in nation building on National Heroes Day
- Indonesia's delayed new capital risks 'white elephant' status
- Fears of new political crisis grip France
