By Jess Diaz (The Philippine Star) Updated March 20, 2012 12:00 AM
MANILA, Philippines - The House of Representatives has approved on
second reading a bill granting tax incentives for the manufacture,
assembly, conversion, and importation of electric, hybrid and other
alternative-fuel vehicles.
The bill titled "An act granting incentives for the manufacture,
assembly or importation if electric, hybrid or alternative vehicles"
aims to promote the use of hybrid vehicles to lessen the country's
dependence on oil and protect the environment from harmful carbon emissions.
It also aims to bring down the cost of such vehicles, which at present
is beyond the reach even of taxpayers belonging to the middle class.
The final bill is a consolidation of several measures authored by
Representatives Rufus Rodriguez of Cagayan de Oro City, Maximo Rodriguez
of the party-list group Abante Mindanao, Hermilando Mandanas of
Batangas, Jose Zubiri III of Bukidnon, Albert Garcia of Bataan, and Ryan
Luis Singson of Ilocos Sur.
The measure defines "electric vehicle" as any vehicle that uses an
electric motor solely for propulsion while "hybrid vehicle" refers to
any vehicle that combines the technologies of using an internal
combustion engine with a battery-powered electric motor to gain the
advantages of both propulsion systems.
On the other hand, "alternative fuel vehicle" pertains to any vehicle
using alternative sources of energy such as but not limited to solar,
wind, hydrogen fuel cell, compressed natural gas, liquefied natural gas,
and liquefied petroleum gas.
The bill exempts the payment of excise taxes and duties for nine years
on the manufacture or assembly of electric, hybrid and other alternative
fuel vehicles, including the conversion of vehicles into electric,
hybrid and other alternative fuel.
It also exempts payment of value-added tax (VAT) for nine years on the
importation and sale of raw materials, spare parts, components, and
capital equipment used in the manufacture or assembly of electric,
hybrid and other alternative fuel vehicles, including the conversion of
vehicles into electric, hybrid and other alternative fuel.
The consolidated bill likewise exempts the payment of excise taxes and
duties for four years on the importation of completely built units of
electric, hybrid and other alternative fuel vehicles.
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