MANILA — President Benigno Aquino III has signed an Executive Order that grants the reduction and condonation of real property taxes and interest/penalties for independent power producers (IPP), Malacanang said Sunday. The new EO 173 signed on October 31, 2014 covers real property taxes and interest/penalties assessed on the power generation facilities of IPPs under build-operate-transfer contracts with government-owned and/or -controlled corporations. Because of this. real property taxes imposed by local government units for all years […]