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.
Marcos signs mining tax regime law
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://djlv.redcanaco.com
- Chinese research vessel spotted near Philippine coast but 'goes dark' after, says maritime expert
- Discaya’s construction companies competed against each other during biddings
- Putin and Modi in China for summit hosted by Xi
- MMDA inks deal with DBM for G-3 program
- Roxas matriarch Judy Araneta-Roxas, 91
- Group: Register for free PhilHealth medicines
- Sen. Go files bills to push health, social, and labor reforms
- MMDA readies for FIVB men’s volleyball
- Gaza at 'breaking point,' says UN food agency chief after visit
- Vico Sotto could challenge VP Sara in 2028 race – survey
