Environment
Earth Month Action: EPRA’S Role in Driving Eco-Friendly Business Practices
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By
AJA Law
As we celebrate Earth Month, we turn our focus to the Philippines’ Extended Producer Responsibility Act (EPRA), a legislative framework dedicated to advancing sustainable practices within the business sector. EPRA mandates companies to adopt full lifecycle management of plastics, aiming to achieve plastic neutrality and reduce its harsh environmental impact. Let us delve into the details of EPRA as we collectively strive toward a more sustainable and responsible future.
Promoting a Green Economy through Green Tax Incentives
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By
AJA Law
In 2016, the Philippines took a significant step towards sustainable development with the passage of Republic Act No. 10771 or the Philippine Green Jobs Act. This groundbreaking legislation promotes the creation of green jobs by providing tax incentives to businesses which contribute to environmental sustainability in economic development.
In line with this, the Bureau of Internal Revenue (BIR) issued Revenue Regulation 05-2019 specifying tax deductions and incentives for businesses offering green jobs and eco-friendly practices. In addition, the Bureau of Customs (BOC) is also mandated to exempt the importation of capital equipment used in the promotion of green jobs from payment of duties and taxes.