Camille Villar seeks more perks for companies going green
By Billy Begas
House Deputy Speaker and Las Piñas Rep. Camille Villar has filed a resolution seeking broader incentive schemes to companies going green or those that adopt eco-friendly practices.
In House Resolution 2483, Villar said providing perks and additional benefits to companies that adopt green techniques will inspire private investments toward a more sustainable future that could result in more employment opportunities for Filipinos.
“In order to spur the green industry, the government should expand its incentive program beyond the manufacturing sector and promote more green firms, particularly micro, small and medium enterprises, that adopt an eco-friendly approach in their operations,” Villar said.
Villar said at present the government is implementing the Philippine Green Jobs Act of 2016 (RA 10771) to create more green jobs or employment that promotes preservation of the environment.
Under the law, qualified businesses are entitled to an additional deduction from their taxable income equivalent to 50% of the total skills training and research expenses it incurred.
The Board of Investments is also granting capital equipment perks and income tax holidays to companies that promote “greening” of the country’s manufacturing industry and its subsectors.
By helping these companies, Villar said new job opportunities and livelihood will also be created.