Solons seek tax rebates for renewable energy users
September 25, 2014 | 12:40pm
MANILA, Philippines - Two party-list representatives are seeking to grant tax rebates as incentives to individuals who will shift to renewable energy sources.
A Teacher Party-list Reps. Mariano Piamonte and Juliet Cortuna authored House Bill 4716 which states that "it shall be the policy of the State to promote the use of renewable energy to combat global warming that causes climate change."
"The need to shift to renewable energy sources has already been agreed upon by governments worldwide, but the pace of the shift is barely noticeable," Cortuna said.
Coruna said that the threat of climate change has become a reality as shown by super typhoon Yolanda last year. It is established in the scientific community that carbon emission causes global warming which leads to climate change.
HB 4716 provides that the Bureau of Internal Revenue (BIR) refund an amount not exceeding 50 percent of the tax that an individual taxpayer has paid for the immediately preceding taxable year.
This will serve as rebates for purchasing renewable energy devices such as solar panels, wind turbines, hydroelectric system, inverter arts, charge controller parts, power shortage batteries and other renewable enerygy system or components certified by the Department of Science and Technology.
For more proposed measures in the House of Representatives, visit our Bill Tracker.
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