MANILA, Philippines — President Ferdinand Marcos Jr. on Thursday signed into law a measure that seeks to modernize the country’s mining fiscal regime., This news data comes from:http://himd.ycyzqzxyh.com
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.
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.
Marcos signs mining tax regime law
- Made in China? The remarkable tale of Venice's iconic winged lion
- Thailand's former Prime Minister Thaksin makes surprise departure ahead of a risky court ruling
- LBC Express Holdings top executive to retire in Oct.
- Pope demands end to 'collective punishment' and forced displacement of Palestinians in Gaza
- US appeals court finds Trump's global tariffs illegal
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- Iran confers with European nations on its nuclear program as sanctions deadline nears
- LGBTQ+ Catholics make Holy Year pilgrimage to Rome and celebrate a new sense of acceptance
- Marcos sacks PNP Chief Torre, saying it was 'difficult but necessary'
- SpaceX cancels Starship megarocket launch
