Wed, December 4, 2024

[ Wed, Dec 04th 2024 ]: Bill Williamson

Compliant power cooperatives to be granted exemption from local taxes

[ Wed, Dec 04th 2024 ]: Bill Williamson

3 Ways Boeing Can Have a Great 2025

[ Wed, Dec 04th 2024 ]: Bill Williamson

Why Shares of Johnson Controls Surged Again in November

[ Wed, Dec 04th 2024 ]: Bill Williamson

Food inflation in policy formulation a complex issue, says EAC-PM member Shah

[ Wed, Dec 04th 2024 ]: Bill Williamson

Fake CEOs swindle Rs 7 crore from Delhi firms: Modus operandi explained

[ Wed, Dec 04th 2024 ]: Bill Williamson

Thai business group sees GDP growth at 2.8% this year, risks ahead

[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

For developing economies, the finance landscape has become a wasteland

[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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[ Wed, Dec 04th 2024 ]: Bill Williamson

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Tue, December 3, 2024

[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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[ Tue, Dec 03rd 2024 ]: Bill Williamson

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Compliant power cooperatives to be granted exemption from local taxes

ELECTRIC COOPERATIVES (ECs) found compliant with the financial and operational standards set by the National Electrification Administration (NEA) will be exempt from tax, fees, and charges imposed by local government units (LGUs),
The article from BusinessWorld discusses a new policy in the Philippines where power cooperatives that comply with the Department of Energy's (DoE) standards will be exempted from local business taxes. This initiative, outlined in a memorandum circular signed by Energy Secretary Raphael P.M. Lotilla, aims to encourage compliance with the Electric Power Industry Reform Act (EPIRA) of 2001. The exemption applies to cooperatives that meet the DoE's performance standards, which include maintaining a system loss rate of 12% or less, adhering to the Magna Carta for Residential Electricity Consumers, and ensuring timely submission of required reports. This move is intended to promote efficiency and accountability among electric cooperatives, potentially reducing the financial burden on these entities and ultimately benefiting consumers through better service and possibly lower rates. However, the article also notes that this exemption could lead to a revenue shortfall for local government units, prompting discussions on how to balance the benefits to cooperatives with the fiscal needs of local governments.

Read the Full BusinessWorld Article at:
https://www.bworldonline.com/economy/2024/12/04/639415/compliant-power-cooperatives-to-be-granted-exemption-from-local-taxes/