EO 157 (s. 2021) — IPP BOT RPT Condonation, CY 2021

Status: operative
Confidence: high
Effective date: 2021-12-16

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 or-Controlled Corporations

Signed: December 16, 2021 | President: Rodrigo Roa Duterte

Scope and Coverage

Geographic scope: Nationwide [EO 157, s. 2021, §1, 2021-12-16].

CY covered: CY 2021 [EO 157, s. 2021, §1, 2021-12-16].

Key Provisions

§1 — Reduction: RPT liabilities for CY 2021 reduced to 15% of FMV depreciated at 2%/yr; interests and penalties condoned [EO 157, s. 2021, §1, 2021-12-16].

§2 — Rollover: Excess payments applied to future RPT liabilities [EO 157, s. 2021, §2, 2021-12-16].

Notes

Second condonation EO issued in 2021 (the first, EO 126, covered CY 2020). Added a new WHEREAS explicitly stating that LGUs assessed IPP machinery and equipment at the maximum assessment level of 80% under §218 of RA 7160 — the first EO in the series to name the LGU assessment level directly [EO 157, s. 2021, WHEREAS ¶3, 2021-12-16]. Signed “By Authority of the President” rather than the standard “By the President” format. See IPP BOT Real Property Tax Condonation for the full series analysis.

Full text: Cleaned copy