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
Latest Posts in "Philippines"
- Legarda Proposes Bayanihan 3 Law to Suspend Fuel VAT, Aid Filipinos Amid Oil Crisis
- Aquino Urges VAT Suspension on Fuel to Ease Rising Prices Amid Middle East Crisis
- Philippines Court Clarifies Rules on Unutilized Input VAT Refunds for Zero-Rated Sales
- Marcos: Government Weighs Oil Law Repeal, VAT Removal Amid Focus on Immediate Fuel Relief
- Philippines Releases New Rules Granting VAT Exemption for Natural Gas Transactions
