THE BOARD of Investments is mulling incentives for hybrid/electric car importation and assembly as several automotive firms have noted weak demand for the pricey but environment-friendly vehicles, a ranking official said late last week.
Businesses behind these cars could be included in next year’s Investment Priorities Plan (IPP), said BoI Managing Head Cristino L. Panlilio, while a bill similarly proposing incentives remains pending in Congress.
"We will look into that for next year’s IPP," Mr. Panlilio said in a telephone interview.
This, he added, will come on top of BoI support for House Bill 1 which proposes that hybrid cars be exempt from import duties and excise, value-added and ad valorem taxes since these consume less fuel and have lower emissions than traditional fossil fuel-powered vehicles.
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