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://www.redcanaco.com
Marcos signs mining tax regime law
- Inflation up 1.5% in August
- Hawaii's Kilauea volcano erupts with lava pouring out from multiple vents
- DPWH told to build evacuation centers
- Gomez-Estoesta named court administrator by Supreme Court
- House bill seeks to regulate AI use
- Kilauea's eruption is back as the Hawaii volcano shoots lava for the 31st time since December
- WBO champ looms as Pacquiao’s next opponent
- Bersamin letter proves Torre reassignments ‘valid’
- Lacson to govt: Protect education budget
- MMDA unveils plan to build rainwater impounding facilities in Camp Aguinaldo
