ILOILO CITY, Iloilo - A party-list for micro-entrepreneurs is pushing for tax exemption on local manufacturers of e-tricycles.
Kasangga Rep. Teodorico Haresco Jr. disclosed the need to lower the cost of locally made solar-powered tricycles otherwise known as e-trikes.
Haresco reiterated the need for a congressional inquiry to look into the exemption of taxes on imported equipment and parts needed by local e-trike manufacturers.
He pointed out that tax exemption is provided for in the E-Trike Project, a joint undertaking of the Asian Development Bank (ADB) and the Department of Energy (DOE).
Hareso added that the National Economic and Development Authority (NEDA) has already approved the R21.5-billion ADB-DOE project that aims to replace 100,000 gasoline-powered tricyles with solar-powered generated e-trikes by selected local government units (LGUs).
He explained that once production cost is reduced, LGUs can avail of a cheaper loan from the Land Bank of the Philippines (LBP), giving access to drivers and operators the chance to acquire e-trikes through a lease-to-own agreement.