Tax credits eyed for Baguio green building owners
BAGUIO CITY, Philippines — A proposal seeking to provide tax credits to building owners, who support efforts to reduce the impact of climate change, has been filed before the city council of Baguio.
Councilor Leandro Yangot Jr. said his proposal would encourage residents to participate in efforts intended to boost environmental sustainability and public health.
The proposal is also expected to inspire the public and private sectors to integrate into their plans green buildings and landscape requirements based on local climate, geological and topographical conditions.
Tangot said that once approved into an ordinance, the environmental impact of buildings would be reduced through improvement of their energy, water and resource efficiencies.
To avail themselves of the tax discount, building owners must present proof of ownership of the establishment.
The tax discount will depend on the ratings that an establishment obtains from the BERDE (building for ecologically responsive design excellence) rating certification system.
The system serves as a benchmark in grading environmental performance of establishments.
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