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.
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., This news data comes from:http://vi.gyglfs.com
Marcos signs mining tax regime law
- MMDA proposes rainwater facilities in Camp Aguinaldo to mitigate EDSA flooding
- Support grows for independent probe into flood control projects
- LPA may still develop into short-lived tropical cyclone
- Opponents of Japan PM seek leadership contest
- IBP forms committee on good governance to probe corruption
- Lacson clears air over conflict with Marcoleta on flood control probe
- Australia expels Iran ambassador over antisemitic attacks
- Drug war whistleblower Royina Garma returns to PH after US detention
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- South Korean prosecutors indict Yoon's wife, former PM
