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.
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, This news data comes from:http://lbidh.705-888.com
- Globe: Mobile data helps drive national progress
- Gasoline, diesel prices to increase by P1 next week
- Kilauea's eruption is back as the Hawaii volcano shoots lava for the 31st time since December
- Bonoan resigns, Dizon named DPWH chief
- COA probes Iqbal on spending of P1.7B in one day
- India's Modi meets Japan's Ishiba as he begins Asia tour
- Putin tells Xi China-Russia ties are at 'unprecedented level'
- Lacson: House can't return proposed 2026 budget to Palace
- DPWH Secretary Dizon orders perpetual ban of Wawao Builders, Syms Construction for ghost projects
- House resumes budget briefings
