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://os-cdry-jh-uv.ycyzqzxyh.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.
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
- Indonesia protests put spotlight on paramilitary police force
- Mass housing developers laud Pag-IBIG Fund
- Hawaii's Kilauea volcano erupts with lava pouring out from multiple vents
- Ever dream of having an entry in the Guinness World Records? Here's how to do it
- Ukraine's children start new school year in underground classrooms to avoid Russian bombs
- DPWH fires Bulacan engineers, blacklists contractors over anomalous projects
- Mob burns Nigerian woman to death over Islam blasphemy claim — police
- Manila Water announces service disruption for over 12K households in Mandaluyong due to leak repair
- Sara slams govt corruption probe as a 'political zarzuela,' to meet with Robredo at Bicol festival
- Xi says China 'unstoppable' in parade opening speech
