Probe on tax exemption, subsidies for E-Trike project sought By Charlie V. Manalo 04/03/2012

Probe on tax exemption, subsidies for E-Trike project sought

By Charlie V. Manalo 04/03/2012

A lawmaker has called for a congressional inquiry into the grant of exemption from taxes and duties, and the provision of other government subsidies in the importation of parts, equipment and machinery needed by the private sector for the manufacture of electric tricycles, or what is more commonly referred to as the E-Trike, to local government units.

Kasangga Rep. Teodorico Haresco said the tax and duty exemptions and government subsidies are provided under the E-Trike Project of the Department of Energy (DoE) and the Asian Development Bank (ADB).

“There is a need to revisit and review the existing duties and taxes, including government subsidies in the importation of parts, machineries and equipment that will translate into a fair and reasonable cost of electric tricycles and result in the reduction of loan amount of the LGUs (local government units) from the Land Bank of the Philippines (LBP),” said Haresco..... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/nation/20120403nat5.html