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, This news data comes from:http://wvbqgaik.xs888999.com
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
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.
- What to know about Indonesia's nationwide unrest over lawmakers' perks
- SpaceX cancels Starship megarocket launch in latest setback
- China is showing off its weaponry in a tightly controlled military parade
- Japan accelerates missile deployment amid rising regional tensions
- Lone bettor wins P386M in 6/58 Ultra lotto draw for Aug 22
- ‘God’s Influencer’ to become first millennial saint
- Pump prices increase for 2nd straight week
- Nartatez vows fair assignments, better resource management as new PNP chief
- Discaya companies' licenses revoked for bid-rigging
- Canada removing tariffs on US goods compliant with free trade deal
