Philippines: Act to Promote the Exploration and Development of Geothermal Resources - Presidential Decree 1442

This act provides incentives for the development of geothermal operations including the recovery of operating expenses (up to 90% of the gross value per year), exemption from all taxes except income tax, income tax obligation paid out of government’s share, exemption from payment of tariff, duties and compensating tax on the importation of machinery, equipment, spare parts and all materials for geothermal operations, depreciation of capital equipment over a ten year period, and easy repatriation of capital equipment investment and remittance of earnings.

Status: In Force; Voluntary

References: Geothermal Energy, Department of Energy