Senator pushes e-vehicle tax incentive bill - Technology - GMA News Online - Latest Philippine News: "To address the unbridled oil price increases and prevent strikes in public transport, Sen. Ralph Recto said his committee will report out next week a consolidated measure that would roll out tax incentives for electronic vehicles in the country, including hybrid and other motor vehicles using alternative fuel.
Electric vehicle refers to any vehicle that uses electric motors; Hybrid Vehicle (HV) will refer to any vehicle that combines the technologies of using internal combustion engine (ICE) with a battery-powered electric motor while other Alternative Fuel Vehicle (AFV) would be any vehicle using alternative sources of energy.
AFV proponents will be exempt from paying excise taxes and VAT for nine years to bring down the cost of importing and converting e-vehicles and their hybrid types, which should result to lower sticker price or dealer’s price for consumers.
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