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.
Marcos signs mining tax regime law, This news data comes from:http://www.xs888999.com
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.
- EU massive fine against Google draws Trump threat
- Thai court dismisses prime minister over compromising phone call with Cambodian leader
- Majority of Filipinos unaware of vote buying in 2025 elections, OCTA survey shows
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- US strike marks shift to military action against drug cartels
- 25,000 Filipinos register for Pag-IBIG's Expanded 4PH Housing Program
- Planning via ‘gender lens’ to make cities more inclusive — expert
- Philippines to work more closely with US amid regional challenges
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
- Indonesia hosts annual US-led combat drills with Indo-Pacific allies
