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., This news data comes from:http://wu.771bg.com
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
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.
- President Marcos commits to boosting PH digital infrastructure
- 11 foreigners killed in Portugal funicular crash
- Makati earns high rating in anti-trafficking and violence assessment
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- Lacson: Senators not exempt from scrutiny in ghost flood control project scandal
- Quezon City hails directive for national projects to get local permits
- Lookout bulletins out vs Atong Ang, Barretto
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
- Pagasa sees two to four tropical cyclones hitting Philippines in September
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
