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.
Read the full article: http://www.philstar.com/Article.aspx?articleId=788988&publicationSubCategoryId=63
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By: Jess Diaz
Source: The Philippine Star, March 20, 2012
To view the original article, click here.
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