MANILA, Philippines — President Ferdinand Marcos Jr. on Thursday signed into law a measure that seeks to modernize the country’s mining fiscal regime., This news data comes from:http://fu-qgf-rv-gx.gyglfs.com
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.
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.
- PNP chief Torre relieved, Nartatez to take over
- President Marcos launches HD Hyundai Shipyard in Subic
- ‘God’s Influencer’ to become first millennial saint
- Japanese city proposes 2-hour daily smartphone limit
- An AI simulation of a Mount Fuji eruption is being used to prepare Tokyo for the worst
- SKorea’s Lee in Tokyo to show friendship
- Xi and Putin round on West at regional summit in China
- New judge to handle Dengvaxia cases named; hearing set
- Malacañang calls plot to jail VP Duterte 'wild imagination'
- Pagasa sees two to four tropical cyclones hitting Philippines in September
