Part five The National Internal Revenue Code and relevant Revenue Regulations in the Philippines provide several fiscal incentives aimed at promoting environmental sustainability practices and the use of renewable energy and sustainable practices. The Renewable Energy Act of 2008 (Republic Act 9513) legislated several tax incentives provisions.
The National Internal Revenue Code and relevant Revenue Regulations in the Philippines provide several fiscal incentives aimed at promoting environmental sustainability practices and the use of renewable energy and sustainable practices. The Renewable Energy Act of 2008 legislated several tax incentives provisions. It requires Renewable Energy developers to secure certifications from the Department of Energy and register with the Board of Investments to avail themselves of these benefits.
2. Zero Percent Value-Added Tax that provides that sales of power or fuel from renewable energy sources, including solar, wind, biomass, geothermal, and hydropower, are zero-rated for VAT purposes. Furthermore, RE developers can claim zero-rated VAT on purchases of equipment, materials, and services necessary for project development and operations.
5. Real Property Tax Cap on RE machinery and equipment set at 1.5 percent of their original cost less depreciation. 8. Net operating loss carryover of the RE Developer during the first three years from the start of commercial operation shall be carried over as a deduction from gross income for the next seven consecutive taxable years immediately following the year of such loss.
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