MANILA, Philippines — President Ferdinand Marcos Jr. on Thursday signed into law a measure that seeks to modernize the country’s mining fiscal regime.
Marcos signs mining tax regime law
The President signed Republic Act (RA) 12253 or the "Enhanced Fiscal Regime for Large-Scale Metallic Mining Act" in a ceremony in Malacañang.
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.
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.redcanaco.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.
- DOST, SM Supermalls partner to empower businesses with sustainable practices
- China is showing off its weaponry in a tightly controlled military parade
- Canada removing tariffs on US goods compliant with free trade deal
- Comelec at 85: Garcia vows reforms to strengthen faith in democracy
- Rubio says US warned France on Israel annexation moves
- LTO summons driver who berated MMDA enforcer
- Veteran Thai politician Anutin Charnvirakul wins vote in Parliament to become next prime minister
- Metro Manila disaster agencies expand response areas in preparation for 'Big One'
- 'Strangest' dinosaur covered in spiked armory — Scientists
- Philippine experts urge harm reduction strategy for tobacco control
