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
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.
- 1.2K pass Electrical Engineers exam
- Budget shortfall narrows in July
- Sen. Go files bills to push health, social, and labor reforms
- Thailand’s next PM reaffirms fresh polls promise
- LPA affects Metro Manila, Mindanao, Visayas
- Lone bettor wins P86M in 6/42 lotto draw for Sept 6
- Putin and Modi in China for summit hosted by Xi
- ‘New NBI chief must be career official’
- Pag-IBIG Fund gives occupants 10% discount to legally buy acquired homes
- Iran-backed Houthis raid UN offices in Yemen and detain at least 11 employees
