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://wtgx-ras-ch-scck.gyglfs.com
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.
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.
- DFA: No US extradition request for Quiboloy
- A suicide bombing near a political rally in southwestern Pakistan kills 13 and wounds 30
- BIR to audit contractors flagged for ghost flood projects for tax fraud — BIR
- Thailand's Parliament to vote Friday for a new prime minister
- Palace suspends govt work, classes in several areas due to bad weather
- Labubu fans flock to stores after launch of mini dolls
- Brawner orders troops: Stop China from boarding BRP Sierra Madre at all costs
- 102-year-old becomes oldest person to summit Mount Fuji
- Japan pledges continued support for Philippine development projects
- Lookout bulletins out vs Atong Ang, Barretto
