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://vyh-ej-vmk-ndx.771bg.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.
Marcos signs mining tax regime law
- Marcos lauds Filipinos for role in nation building on National Heroes Day
- Recto: No exemption for US tech firms from digital tax
- Peru’s ex-president Toledo gets a second sentence in the Odebrecht corruption scandal
- Alice Guo faces new cases over POGO land
- New mining law to balance profit, ecology
- Thai woman jailed for 43 years for lese majeste freed
- UN watchdog finds uranium traces at suspected Syrian former nuclear site
- House holds budget review with 21 civil society organizations
- Wawao Builders exec ‘not sure’ if company has flood control project in Bulacan
- Scramble for survivors as Afghan earthquake death toll passes 1,400
