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://www.yamato-syokunin.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.
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.
Marcos signs mining tax regime law
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.
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Laws signed on holidays, court branches
- Red Cross head says mass evacuation of Gaza City 'impossible'
- P270M rock shed useless – Marcos
- PH doesn't recognize Taiwan as sovereign state, stands by 'One China Policy' -- Foreign Affairs chief
- Putin meets Kim, praises North Korean troops in Russia
- North Korea's Kim in China ahead of massive military parade
- Hope dwindles for survivors days after deadly Afghan quake
- Palace suspends govt work, classes in several areas due to bad weather
- Some areas in Metro Manila, Bulacan to have brownouts due to maintenance work
