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.
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://ytpban.705-888.com
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.
- Recto: No exemption for US tech firms from digital tax
- Trump tells Europe to put economic pressure on China over Ukraine
- House tackles P881B public works budget amid flood control anomalies
- Xi meets Modi as China and India seek to rebuild ties
- 2,000 North Korean troops killed in Russia deployment: Seoul spy agency
- San Juan commemorates first revolution under Spanish rule in 129th Araw ng Pinaglabanan
- Israeli strikes in Yemen's capital kill six, Houthis say
- Bonoan freezes DPWH travel passes
- NKorea's Kim tells Xi hopes to 'steadily develop' ties – KCNA
- 9 dead in Ecuador after bus plunges into ravine
