SBN-472 Green Vehicles Incentives Act
An Act Promoting Environmentally Sustainable Transport by Providing Incentives for the Manufacture, Assembly, Conversion and Importation of Electric, Hybrid and Other Green Vehicles, and for other purposes
The bill provides incentives to manufacturers, assemblers, importers and users of electric, hybrid, and other green vehicles, excluding vehicles powered by gasoline, petroleum, bio-diesel, and bio-ethanol. Incentives include exemption from payment of excise taxes, suspension of imposition on VAT, exemption from payment of MVUC, and other non-fiscal incentives such as priority in registration and issuance of plate number, priority in franchise application, exemption from UVVRP, and provision for free parking spaces in new establishments.
Author: Recto, Ralph
Date: July 15, 2019