MANILA, Philippines — President Ferdinand Marcos Jr. on Thursday signed into law a measure that seeks to modernize the country’s mining fiscal regime.
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., This news data comes from:http://www.aichuwei.com
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.
- Evicted from their forests, Kenyan hunter-gatherers fight for their rights
- Xi says China 'unstoppable' in parade opening speech
- ICC clears applications of 15 drug war victims to join proceedings vs Duterte
- Widespread flooding in Quezon City due to heavy rains, stranding commuters, rendering most roads impassable to vehicles
- DOJ indicts Abra Mining for fraudulent trading
- Comelec en banc upholds cancelation of Duterte Youth Party-List registration
- UK's mass facial-recognition roll-out alarms rights groups
- A summit and parade in China may signal a geopolitical shift
- Pakistanis no reprieve from floods yet
- Oil firms to hike pump prices Tuesday
