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., This news data comes from:http://hes-mht-mrlb-iic.705-888.com
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.
Marcos signs mining tax regime law
- Marcos orders full budget review for DPWH amid ghost projects scandal
- India warns Pakistan of more cross-border flooding due to heavy monsoon rains
- Philippines to work more closely with US amid regional challenges
- Escudero urges list of unfundable projects for 2026 budget
- Private groups back DHSUD chief's anti-corruption policy
- Customs finds only 2 luxury cars at contractor's compound in Pasig
- Nepali court: Hindu holy men's nudity not obscene
- House bill seeks to regulate AI use
- ‘Lannie’ will bring rain showers, thunderstorms over North Luzon —Pagasa
- Nartatez rules out 'quota' arrests
