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://wocm-fnc-giyi-xmd.redcanaco.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.
- 'Blood Moon' to rise during total lunar eclipse Sunday night
- Napoles gets 55 years for another ‘pork’ case
- China displays its weaponry in a tightly controlled military parade
- Five killed in New York state tourist bus crash
- Putin threatens to target Western troops in Ukraine
- Sara favors punishing officials, lifestyle checks
- Court orders Immigration to release of Global Ferronickel Chairman Joseph Sy
- Escudero urges list of unfundable projects for 2026 budget
- Head of main US health agency abruptly dismissed
- Thai PM Paetongtarn Shinawatra sacked; new turmoil feared
