New Fiscal Regime for Mining Industry Signed Into Law - BusinessWorld Online

New fiscal regime for mining industry signed into law - BusinessWorld Online

By Erika Mae P. Sinaking PHILIPPINE President Ferdinand R. Marcos, Jr. on Thursday signed into law a measure that overhauls the tax regime for large-scale metallic mining, imposing royalties and profit-based levies to boost government revenue and share gains with host communities. “This reform mandates mining companies that operate within government-designated mining sites to pay a royalty of 5% of their gross output,” the President said during …

Marcos signs into law new mining tax system

President Marcos yesterday signed into law a measure that seeks to simplify the country’s mining fiscal regime and ensure a fairer government share from natural resources, a move seen to promote a fairer and more transparent mining tax system while protecting the environment.

Marcos signs enhanced fiscal regime for mining industry act

MANILA, Philippines — President Ferdinand Marcos Jr. on Thursday signed into law the “Enhanced Fiscal Regime for the Mining Industry Act,” establishing a fair, transparent, and accountable fiscal framework for large-scale metallic mining to ensure the government’s equitable share of revenues. The law, to be officially known as Republic Act (RA) No. 12253, was signed

'Fairer, clearer': Marcos signs law reforming tax system for large-scale metallic mining

The President said the law places a system that is “fairer, that is clearer, and more responsive to the needs of both the people and the environment."

Marcos signs mining tax regime law

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 govern…

Marcos inks Enhanced Fiscal Regime for Large-Scale Metallic Mining Act

President Ferdinand ''Bongbong'' Marcos Jr. signed Thursday the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act, which aims to simplify and rationalize the fiscal regime for large-scale metallic mining by removing tax distinctions based on mining agreements.