EO 173 (s. 2014) — IPP BOT RPT Condonation, Nationwide

Full title: Reduction and Condonation of Real Property Taxes and Interest/Penalties Assessed on the Power Generation Facilities of Independent Power Producers Under Build-Operate-Transfer Contracts with Government-Owned and/or -Controlled Corporations

Signed: October 31, 2014 | President: Benigno S. Aquino III

Scope and Coverage

Geographic scope: Nationwide — all LGUs and other entities authorized to impose RPT [EO 173, s. 2014, §1, 2014-10-31].

CY covered: All RPT liabilities up to 2014; gaps 2012–2014 not covered by any prior EO [EO 173, s. 2014, §1, 2014-10-31].

Key Provisions

§1 — Reduction: RPT liabilities reduced to 15% of FMV depreciated at 2%/yr; all fines, penalties and interests condoned [EO 173, s. 2014, §1, 2014-10-31].

§2–§5 — Compliance, Repealing, Separability, Effectivity: Expanded from EO 27’s 4 sections to 5; added separability clause and effectivity upon newspaper publication [EO 173, s. 2014, §§2–5, 2014-10-31].

Notes

First nationwide condonation EO — expanded from EO 27’s Quezon Province scope. Added Art. VII §17 constitutional basis (presidential control of executive departments). Covers cumulative arrears through 2014. See IPP BOT Real Property Tax Condonation for the full series analysis.

Full text: Cleaned copy