BusinessMirror
  • News
    • News
    • Top News
    • Regions
    • Nation
    • World
    • Asia Today
  • Business
    • Business
    • Agri-Commodities
    • Asean Economic Community
    • Banking & Finance
    • Companies
    • Economy
    • Entrepreneur
    • Executive Views
    • Export Unlimited
    • Harvard Management Update
    • Monday Morning
    • Mutual Funds
    • Stock Market Outlook
    • The Integrity Initiative
  • Sports
  • Opinion
    • Opinion
    • Columns
    • Editorial
    • Editorial cartoon
  • Life
    • Life
    • Art
    • Design&Space
    • Digital Life
    • Journey
    • Motoring
    • 360° Review
    • Property
    • Show
    • Tech
    • Tourism
    • Y2Z
  • Features
    • Biodiversity
    • Education
    • Envoys & Expats
    • Explainer
    • Faith
    • Green
    • Health & Fitness
    • Mission: PHL
    • Our Time
    • Perspective
    • Photo Gallery
    • Science
    • Today in History
    • Tony&Nick
    • When I Was 25
    • Wine & Dine
  • BMPlus
    • BMPlus
    • SoundStrip
    • Live & In Quarantine
    • Bulletin Board
    • Marketing
    • Public Service
    • CSR
  • The Broader Look
Subscribe
BusinessMirror
BusinessMirror
  • News
    • News
    • Top News
    • Regions
    • Nation
    • World
    • Asia Today
  • Business
    • Business
    • Agri-Commodities
    • Asean Economic Community
    • Banking & Finance
    • Companies
    • Economy
    • Entrepreneur
    • Executive Views
    • Export Unlimited
    • Harvard Management Update
    • Monday Morning
    • Mutual Funds
    • Stock Market Outlook
    • The Integrity Initiative
  • Sports
  • Opinion
    • Opinion
    • Columns
    • Editorial
    • Editorial cartoon
  • Life
    • Life
    • Art
    • Design&Space
    • Digital Life
    • Journey
    • Motoring
    • 360° Review
    • Property
    • Show
    • Tech
    • Tourism
    • Y2Z
  • Features
    • Biodiversity
    • Education
    • Envoys & Expats
    • Explainer
    • Faith
    • Green
    • Health & Fitness
    • Mission: PHL
    • Our Time
    • Perspective
    • Photo Gallery
    • Science
    • Today in History
    • Tony&Nick
    • When I Was 25
    • Wine & Dine
  • BMPlus
    • BMPlus
    • SoundStrip
    • Live & In Quarantine
    • Bulletin Board
    • Marketing
    • Public Service
    • CSR
  • The Broader Look
  • Banking & Finance

Solons OK tax, revenue rules for nuclear power

  • Jovee Marie de la Cruz
  • May 18, 2023
  • 243 views
  • 2 minute read
Rep. Joey Sarte Salceda
Total
0
Shares

THE House Committee on Ways and Means has approved the tax and revenue provisions of the unnumbered substitute bill that would create a body that will regulate the nuclear energy sector in the country.

The House Ways and Means Committee, chaired by Rep. Jose Ma. Clemente “Joey” S. Salceda, approved the substitute bill, which seeks the establishment of the Philippine Atomic Energy Regulatory Authority, or “PhilATOM,” and provides for a comprehensive legal framework for radiation protection, nuclear security safety and safeguards and physical safety in the peaceful utilization of nuclear energy in the Philippines.

The panel specifically approved PhilATOM’s exemption from donor’s tax.

The bill also mandates that, in accordance with the Customs Modernization and Tariff Act (Republic Act 10863), the review and approval of export authorizations of nuclear materials would be coordinated with the Department of Trade and Industry-Strategic Trade Management Office, the Bureau of Customs and other border authorities.

Aside from establishing the PhilATOM, the bill also sets up a comprehensive legal framework for radiation safety and standards for the peaceful utilization of nuclear energy. The bill also sets the requirements for authorization and regulation of nuclear energy applications. The House tax panel revised tax provisions which the nuclear energy panel accepted.

“It is high time to finally provide for a guiding framework to harness nuclear energy in the country,” Salceda said. “Let’s stop scaring ourselves and let the science and history guide our decisions on nuclear energy.”

Dependence on coal, oil

THE lawmaker noted that the country’s dependence on coal and oil imports, “the long-term effects of fossil fuel consumption on health and climate, the instability of other energy sources, as well as the land area needed by most renewable sources all point to nuclear as a necessary, if not inevitable, option for a country with our population size.”

According to Salceda, nuclear can produce energy for as low as P1.50 per kilowatt-hour in generating costs.

“Of course, I understand the valid criticisms of nuclear energy. But, nuclear energy cannot be a yes-or-no question, where we simply choose to completely ignore it forever. If the question is safety, what we must ask ourselves is how to make nuclear energy safe, not to abandon it altogether,” he said.

Salceda said that due to fossil fuel use, estimates range from 11,000 to 27,000 premature deaths per year.

“Nuclear pollution will only cause 1 death every 33 years. Just below solar energy, it is the safest form of energy and it is baseload, unlike solar,” he added.

Salceda said he and fellow authors of the yet-to-be named bill are “open to arguments centered on the science.” The bill is principally authored by Representatives Marcos Juan Bruno “Mark” O. Cojuangco, Gloria Macapagal Arroyo and Salceda.

“But without a guiding framework to begin with, no meaningful debate can take place,” he added.

0
0
0
0
0
0
0
0
Related Topics
  • Featured
Previous Article
  • Banking & Finance

LandBank OKs ₧272-M loan for Nueva Ecija schools

  • BusinessMirror
  • May 17, 2023
Know more
Next Article
  • Banking & Finance

Medalla: GCash app snafu not hacking but phishing

  • VG Cabuag
  • May 18, 2023
Know more

Know more

Bureau of Customs (BOC)
Know more
  • 6
  • 3 min
  • Banking & Finance

Preferential tariff rates allowed for countries under RCEP–BOC

  • Jasper Y. Arcalas
  • June 5, 2023
Know more
  • 6
  • 3 min
  • Banking & Finance

Maharlika fund bill seen to lure investment funds

  • Jovee Marie de la Cruz
  • June 5, 2023
KPMG Perspectives
Know more
  • 6
  • 3 min
  • Banking & Finance
  • Column

The potential impact of ChatGPT and the new AI on business

  • KPMG Perspectives
  • June 5, 2023
Know more
  • 6
  • 2 min
  • Banking & Finance

DOF offers 3 options in pension of MUPs

  • Jasper Y. Arcalas
  • June 5, 2023
Know more
  • 6
  • 1 min
  • Banking & Finance

PALENG-QR IN CAMILING

  • BusinessMirror
  • June 5, 2023
Know more
  • 5
  • 2 min
  • Banking & Finance

Maharlika fund proponents told to obey Constitution

  • Butch Fernandez
  • June 5, 2023
Know more
  • 144
  • 3 min
  • Banking & Finance

‘Water firms passed on taxes to users’

  • Joel R. San Juan
  • June 2, 2023
Know more
  • 3.1K
  • 2 min
  • Banking & Finance

Digital bank, lender team up to loan to small stores

  • Roderick Abad
  • June 2, 2023
Know more
  • 147
  • 2 min
  • Banking & Finance
  • Column

‘C’ of Opportunities

  • Octavio Peralta
  • June 2, 2023
Know more
  • 151
  • 2 min
  • Banking & Finance

Digital pay system to stay amid ‘phishing’

  • Jasper Y. Arcalas
  • June 2, 2023
Know more
  • 257
  • 1 min
  • Banking & Finance

LandBank loans to sugar sector at ₧1.55B

  • BusinessMirror
  • June 1, 2023
Know more
  • 187
  • 2 min
  • Banking & Finance

₧437.5M in loans for 10calamity areas–GSIS

  • BusinessMirror
  • June 1, 2023
Know more
  • 199
  • 3 min
  • Banking & Finance

GSIS’s feat prompts Marcos to call for full digitalization

  • Samuel P. Medenilla
  • June 1, 2023
Know more
  • 171
  • 2 min
  • Banking & Finance

Government eyes GSIS as fund gaffer for MUP pension

  • Samuel P. Medenilla
  • June 1, 2023
Know more
  • 159
  • 2 min
  • Banking & Finance

Top ESG Funds in Asia boost returns in market ignored by money managers

  • Bloomberg News
  • June 1, 2023
Know more
  • 176
  • 2 min
  • Banking & Finance

Higher credit card, MVloans expanded in April

  • Raadee S. Sausa
  • June 1, 2023
Know more
  • 175
  • 3 min
  • Banking & Finance

PBB 2022 income growth rate hits 12.3%, 57.7% in Q1

  • BusinessMirror
  • June 1, 2023
Know more
  • 319
  • 2 min
  • Banking & Finance

April money supply hits ₧16.3T, up 6.6% from March

  • Raadee S. Sausa
  • June 1, 2023
Bureau of the Treasury building in Intramuros, Manila
Know more
  • 238
  • 2 min
  • Banking & Finance

Inflation seen tracking easing trend in yields of debt papers

  • Jasper Y. Arcalas
  • May 31, 2023
Santiago F. Dumlao Jr. - FINEX Free Enterprise
Know more
  • 256
  • 3 min
  • Banking & Finance
  • Column

Let’s talk capital market (Part 2)

  • Santiago F. Dumlao Jr.
  • May 31, 2023

Subscribe

BusinessMirror
  • About Us
  • Contact Us
  • Advertise with us
  • Privacy Policy
  • Cookie Policy
  • Podcast
  • Text-Only Homepage

Input your search keywords and press Enter.