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., This news data comes from:http://buj-dx-dii-hnr.gyglfs.com
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.
- Lacson warns lawmakers may be complicit in ghost flood control projects
- SSS hails Marcos, Recto for initiating pension reforms, including one to be rolled out in Sept
- Thai woman jailed for 43 years for lese majeste freed
- Motive probed for US shooting that killed two children, injured 17
- Support grows for independent probe into flood control projects
- Head of main US health agency abruptly dismissed
- Group presses DA on delayed fertilizer subsidies
- 1.2K pass Electrical Engineers exam
- Thai court to rule on PM's fate after Hun Sen call leak
- Lacson clears air over conflict with Marcoleta on flood control probe
