Solons seek granting of tax rebate to buyers of

renewable energy device or system

Two lawmakers are seeking the granting of tax rebates to individuals who purchase
renewable energy devices or systems.
According to A Teacher Party-list Reps. Mariano . Piamonte! "r. and "uliet R.
#ortuna! their proposal will entice the private sector and the public in general to shift to
renewable energy.
Piamonte said one of the stumbling blocks to the shift to renewable energy sources
is the huge cost that the government will entail doing it.
To reduce the cost! Piamonte said it is better to tap the private sector and the public
to move along in the global effort to shift to renewable energy systems.
$To entice the private sector and the public in general to shift to renewable energy!
tax rebates should be offered as incentives!% Piamonte said.
#ortuna said the climate change threat has not only been a speculation lately but has
become a reality as shown by the strength of super typhoon &olanda last year.
'he said it is now an established fact in the scientific community that carbon
emission has caused global warming that has eventually led to climate change.
$The need to shift to renewable energy sources has already been agreed upon by
governments worldwide! but the pace of the shift is barely noticeable!% said #ortuna.
Piamonte and #ortuna (ointly authored )ouse *ill +,-.! which provides that it shall
be the policy of the 'tate to promote the use of renewable energy to combat global
warming that causes climate change.
The bill provides that the *ureau of /nternal Revenue 0*/R1 shall! upon re2uest by
an individual taxpayer! refund to the said taxpayer the amount not exceeding 34 percent of
the tax he has paid for the immediately preceding taxable year or P34 million! whichever
is lower! as rebates for the taxpayer5s purchase of renewable energy devices or
components thereof such as but not limited to the following6
a1 'olar panels and! or support components7
b1 8ind turbines! assembly! parts and! or support components7
c1 )ydroelectric system! parts and! or components7
d1 /nverter parts! assembly or components7
NR # 3600B
SEPT. 25, 2014
e1 #harge controller parts! assembly or components7
f1 Power shortage batteries of any kind7
g1 9ther renewable energy system or components as certified by the :epartment of
'cience and Technology 0:9'T1.
)owever! the amount of rebates should not exceed .4 percent of the amount of the
purchase of renewable energy devices or components or system! the bill provides.
The bill! now pending at the #ommittee on 8ays and Means chaired by Rep.
Romero ;uimbo 0<
nd
:istrict! Marikina #ity1! defines rebate as the refund or repayment
by the government to a taxpayer who has duly paid his taxes. The rebate should be in the
form of cash or similar instrument that could be readily available for use by the
beneficiary.
/t defines renewable energy as the form of producing energy derived from
environmentally friendly source such as solar! wind! hydro! geothermal! sea waves and
other similar sources! which do not employ the use of fossil fuel or the likes of it.
The measure further provides that the system purchase rebates shall include the cost
of labor! consultancy and other related technology support services in connection with the
installation of purchased renewable energy devices! parts or system by an individual.
The :epartment of =inance 0:9=1! in cooperation with the :epartment of 'cience
and Technology :9'T1! shall issue the necessary rules! regulation and guidelines for the
implementation of the provisions of the proposed Act! based on the bill. 0>41 rbb