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://www.erlvyiwan.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.
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- Customs preparing report on Discayas’ 28 luxury cars
- Ballots for oct 13 BARMM polls completed – Comelec
- COA launches sweeping audit of flood control projects
- Afghanistan earthquake kills more than 800
- Seoul says over 300 South Koreans held in US battery plant site raid
- Bureau of Customs seeks missing luxury cars of contractor Sarah Discaya
- China's Xi holds talks with North Korea's Kim in Beijing
- LPA over West PH Sea develops into tropical depression, now called ‘Jacinto’ -- Pagasa
