The Philippines Bureau of Internal Revenue (BIR) has issued Revenue Regulations No. 7-2022, which provides updated policies and guidelines for the tax incentives provided under the Renewable Energy Act of 2008. This includes incentives for Renewable Energy (RE) developers and manufacturers, fabricators, and suppliers of locally produced RE equipment, provided that the required certifications/accreditations have been secured.
Zero Percent Value-Added Tax Rate – 0% VAT applies for:
- the sale of power or fuel generated through renewable sources of energy such as, but not limited to, biomass, solar, wind, hydropower, geothermal, ocean energy, and other emerging energy sources using technologies such as fuel cells and hydrogen fuels;
- ….
Source Orbitax
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