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., This news data comes from:http://www.771bg.com
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.
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Protesters storm Discaya compound, Sotto calls for calm
- Inflation up 1.5% in August
- Maryland resident is diagnosed with New World screwworm. What to know about the parasite
- Comelec: Postponed village, youth elections not in 2026 budget
- Go seeks more support for Filipino athletes
- DPWH seeks lookout bulletin vs officials, contractors in ghost projects
- US senators to reinforce 'partnership' with Taiwan
- Thailand ruling party moves to dissolve parliament
- Oil firms to raise fuel prices this week
