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.
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., This news data comes from:http://705-888.com
Marcos signs mining tax regime law
- Discaya’s construction companies competed against each other during biddings
- Customs preparing report on Discayas’ 28 luxury cars
- CFO moves office from QC to Pasay
- Epstein victims compiling list of sexual abusers
- DHSUD chief cites accomplishments
- Lacson to Marcoleta: I don’t want a fight but I won’t back down from one
- Pagasa monitors 2 LPAs inside PAR; prevailing 'habagat' brings rain across PH
- Thai court to rule on PM's fate after Hun Sen call leak
- Rep. Tiangco reveals P17B flood control allocations linked to former appropriations chairman Rep. Zaldy Co
- Cusi charged over Malampaya deal
