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://ktwcxwu.ycyzqzxyh.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.
- Marcos orders full budget review for DPWH amid ghost projects scandal
- Leviste files charges against DPWH engineer who tried to bribe him
- South Africa's most vulnerable struggle to find HIV medication after US aid cuts
- Four children killed by parents in Dominican Republic — police
- ‘Gomez ignorant of how media works’
- Sara’s claims that corruption probe could be done in one day 'absolutely preposterous' – Palace
- China's Communist rulers push party role before World War II anniversary
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
- Heavy rain causes flooding, landslides and 8 deaths in Vietnam and Thailand
- Peace efforts in limbo as Kyiv mourns 23 dead
