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Philipine: Green and go (Perks okayed for electric cars, hybrids)

The green race is heating up, with a proposal to grant generous incentives to the manufacturers of electric cars, hybrids, and other types of vehicles powered by alternative fuel gaining momentum in Congress.

Last October, two House committees — ways and Means, and Trade– approved an unnumbered bill which was actually a consolidation of different bills authored by a number of congressmen aiming to spur production of “green” vehicles.

The proposed incentives range from exemption from excise tax to duty-free importation of raw materials and equipment for nine years to priority in license listing to exemption from the much-loathed ‘color coding” scheme.

The bill also provides for a zero VAT rate for nine years on the sale of raw materials, spare parts, components and capital equipment used in the manufacture or assembly of electric, hybrid and other alternative fuel vehicles, including the conversion into such vehicles.
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