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://705-888.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.
- Actress Angel Aquino victim of 'deepfake,' seeks prosecution of perpetrators of cyber pornography
- DILG denies claims ex-PNP chief ousted over firearms purchase
- Nepal to block unregistered social media platforms – govt
- Labubu fans flock to stores after launch of mini dolls
- CBCP president urges Israel to stop military operations in Gaza
- Afghan quake death toll surges to over 2,200
- Manila marks National Heroes Day with job fair
- One in four people lack access to safe drinking water – UN
- Argentina hunts Nazi-looted painting revealed in property ad
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
