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.
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., This news data comes from:http://www.yamato-syokunin.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.
Marcos signs mining tax regime law
- PH, Australia, Canada hold maritime drills in West Philippine Sea
- Taylor Swift, Travis Kelce engaged
- Japanese climber, 102, sets Mount Fuji record
- Gasoline, diesel price hikes seen next week
- Ukraine eyes defense deal with PH that includes co-production of drones, says envoy
- Heavy rain falls in parts of Southeast Asia after tropical storm blows into Vietnam
- Some National Guard units in Washington are now carrying firearms in escalation of Trump deployment
- Monsoon rains flood Mandaluyong, Parañaque — MMDA
- Eala kicks off US Open campaign, aims for breakthrough win in New York
- Strikes across Gaza Strip kill at least 31 as international scholars accuse Israel of genocide
