President Ferdinand Marcos Jr. has issued an executive order granting real property tax breaks to independent power producers (IPPs) operating under Build-Operate-Transfer (BOT) contracts with state-owned corporations. Executive Order No. 36 signed on Tuesday reduced and condoned real property taxes (RPTs) assessed by local governments on the power generating facilities of IPPs within their locality. According to the EO, various local governments have taken the position that IPPs operating in their territories were not entitled to exemptions and privileges enjoyed by government-owned or -controlled corporations (GOCCs) with respect to taxes on their property, machinery and equipment used in the generation and distribution of electric power.

https://newsinfo.inquirer.net/1809019/marcos-okays-realty-tax-breaks-for-ipps

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