Philippines Modernizes Mining Tax System,Aims for balanced Growth & Revenue Boost
Manila,Philippines – President Ferdinand Marcos Jr. signed into law on Thursday a landmark measure poised to reshape the philippines’ metallic mining industry. Republic Act (RA) 12253, the Enhanced Fiscal Regime for Large-Scale Metallic Mining Act, authored and sponsored by Senator JV Ejercito, promises a modernized and streamlined tax system for the sector.
The new law consolidates all large-scale metallic mining companies under a single, obvious, and equitable tax framework. Senator Ejercito anticipates the reform will generate an additional ₱6 billion (approximately $106 million USD) in annual revenue for the national government.
“This revenue will be crucial in funding high-impact projects, including vital infrastructure development and strengthening our Worldwide Health Care system,” Ejercito stated, speaking in Filipino after the ceremonial signing at Malacañang palace.
Beyond increased revenue, RA 12253 aims to balance economic gains with environmental responsibility. Ejercito emphasized the law’s intent to “harness the potential of our mining sector and turn our mineral wealth into national wealth, ensuring mining works for the people, protects our environment, and fuels our national development.”
A key component of the legislation is the expedited release of mining taxes and royalties to local government units (LGUs). This faster access to funds will empower LGUs to implement projects and services directly benefiting their communities.
While the final version of the law did not include a provision proposed by Ejercito – a five-year moratorium on the export of locally extracted minerals – the Senator remains committed to pursuing this measure in future legislative sessions. “We still did our best. We will fight for this in the next Congress,” he affirmed.
Keywords: Philippines, Mining, Tax Reform, Ferdinand Marcos Jr., JV Ejercito, Revenue, Economic Growth, Environmental Protection, Local Government Units, RA 12253, Metallic Mining.
