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://hkxw-xv-mus-liqi.xs888999.com
Marcos signs mining tax regime law
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.
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.
- Hontiveros wants Senate to probe Chinese who pretended to be Filipino
- Chinese warships shadow Philippine, Australian, Canadian drills in Zambales
- BuCor chief calls for major reforms
- Wildfire tears through California gold rush town
- Supreme Court urged to act on fake complaints
- Marcos wants subpoena power for body investigating flood projects
- Protesters storm Discaya compound, Sotto calls for calm
- Discaya says her family owns nine companies
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- New DPWH chief Dizon: "A department can't investigate itself"
