Cebu Trade Group Welcomes ‘Green Jobs’ Law

The Cebu Chamber of Commerce and Industry (CCCI) has welcomed the new law that promotes the creation of “green jobs” in the country, saying this will encourage an increase in green investments.

“We welcome this development as it will encourage an increase in green investments and establishments if more fiscal incentives may be made available,” said CCCI president Melanie Ng.

“This will also mean more green jobs will be created that will benefit the environment,” Ng said.

President Benigno C. Aquino III signed last April 29 Republic Act (RA) No. 10771 or the Philippine Green Jobs Act of 2016, which applies to establishments engaged in the production, manufacturing, processing, repacking, assembly or sale of goods and/or services, including service-oriented enterprises.

Green jobs refer to employment that contributes to preserving or restoring the quality of the environment, be it in the agriculture, industry or services sector.

The law grants incentives to encourage business enterprises to generate and sustain green jobs, as certified by the Climate Change Commission.

Among the incentives are the special deduction from the taxable income equivalent to 50 percent of the total expenses for skills training and research development expenses.

Also included as incentive is tax and duty free importation of capital equipment, “provided that the capital equipment is actually, directly and exclusively used in the promotion of green jobs of the business enterprise.”

Ng said the chamber will create a sub-committee for green jobs development to raise awareness of opportunities available in this area. (PNA) LAP/EB/EDS