Thursday, 29 March 2012 19:09 Fernan Marasigan / Reporter
Comments: This interesting article was taken here. Spotting trends like this proves that it does not take money to take money, an explanation of this concept can be found in this previous article. There are websites that help generate positive & profitable ideas., one of those sites look like this. Pinoy Business Coach believes in the capability of the Filipino Entrepreneur!
THE House of Representatives, in a plenary session, has approved on second reading a bill that will provide incentives for the manufacture, assembly, conversion and importation of electric, hybrid and other alternative-fuel vehicles.
House Bill 5460 aims to lay down the groundwork for the widespread use of hybrid and alternative-fuel vehicles in the country and thus lessen dependence on imported fossil fuel.
The measure, which substitutes House Bills 01, 4794, 5139 and 5161, also seeks to protect the environment by mitigating the deleterious effects of harmful carbon emission into the atmosphere.
It defines an electric vehicle (EV) as any vehicle that uses electric motors solely for propulsion, while a hybrid vehicle (HV) refers to any vehicle that combines the technologies of using an internal combustion engine (Ice) with a battery-powered electric motor to gain advantages of both propulsion systems.
An alternative-fuel vehicle (AFV) pertains to any vehicle using alternative sources of energy such as but not limited to solar, wind, hydrogen fuel cell, compressed natural gas (CNG) or liquefied natural gas (LNG) and liquefied petroleum gas (LPG) other than conventional sources of energy like petroleum and gasoline for propulsion.
The bill seeks to exempt from the payment of excise taxes and duties for nine years from the effectivity of the law the manufacture or assembly of completely knocked-down (CKD) parts of electric, hybrid and other alternative-fuel vehicles, including the conversion of vehicles into electric, hybrid and other alternative-fuel vehicles.
It also exempts from the payment of value-added tax for nine years from the effectivity of the law the importation 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 of vehicles into electric, hybrid and other alternative-fuel vehicles.
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, shall be subject to 0-percent VAT rate for nine years from the effectivity of the law.
The bill exempts from the payment of excise taxes and duties for four years from the effectivity of the law the importation of completely built units (CBUs) of electric, hybrid and other alternative-fuel vehicles.
*This is a positive trend that can open a whole new line of products and services to small business people. Being aware of trends can bring in income generating ideas!
0 comments :
Post a Comment
Please post responsibly. any back links are welcome as long as they are related to the Blog Title. Thanks and happy posting.