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.
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://ycyzqzxyh.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.
- Ukraine says Russia linked to lawmaker's killing
- DPWH told to build evacuation centers
- Australia government condemns anti-immigration rally in Sydney
- Palace rejects Sara's offer of 'free advice' on flood solutions, says to give it to 'Mayor Baste' instead
- Lawmaker linked to anomalous flood control projects in US for medical reasons, says House spokesman
- PH to see ‘blood moon’ Sept. 7-8
- 17 House lawmakers press Marcos administration to raise WPS issue to UN
- Portugal mourns after Lisbon streetcar accident kills 15
- MMDA inks deal with DBM for G-3 program
- Pagasa sees two to four tropical cyclones hitting Philippines in September
