PRESIDENT Ferdinand Marcos Jr. has signed an executive order (EO) lowering the real property taxes (RPTs), interests, and penalties on the property, machinery, and equipment of Independent Power Producers (IPPs) operating under a Build-Operate-Transfer (BOT) agreement.
EO 36, inked by Marcos on July 25 and made public on Friday, reduces and condones real property taxes and penalties assessed on power generation facilities of IPPs under BOT contracts with government-owned and -controlled corporations (GOCCs).
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