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Rules on auto tax hike out

The Bureau of Internal Revenue has issued the guidelines for the increase in the excise taxes on minerals, cigarettes, vehicles, and in the documentary stamp tax rates under the Tax Reform for Acceleration and Inclusion (TRAIN) act. The four revenue regulations (RR) signed by Finance Secretary Carlos G. Dominguez III and Internal Revenue Commissioner Caesar […]

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Toyota exec disappointed at higher excise taxes for locally produced cars

Market leader Toyota Motor Philippines Corp. (TMP) is disappointed that even locally produced cars would be slapped with higher excise taxes, making the incentive under a flagship manufacturing program “meaningless.” TMP President Satoru Suzuki told reporters on Wednesday that the company may now find it hard to commit to its previous target under the CARS […]

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Congress raises tax on cars, fuel

Personal income tax of salary-earners has been lowered but the excise tax on a host of goods and services such as automobiles, tobacco, coal, oil products and cosmetic procedures, has been increased under the Tax Reform for Acceleration and Inclusion (TRAIN) bill that both chambers of Congress are set to ratify today. On Monday, the […]

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Senate approves two-tier tax rate for cars

The Senate voted 17-1 to approve the Tax Reform Acceleration and Inclusion (TRAIN) bill, with Sen. Risa Hontiveros being the lone dissenter. The TRAIN bill imposes a two-tier tax scheme on automobiles— 10 percent on price of cars valued up to P1 million and 20 percent for those valued over P1 million. About 6.8 million […]

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DOF: Fuel marking to generate P20-billion additional revenues

The fuel marking system to be implemented early next year as part of the first tax reform package will generate P20 billion in additional revenues for the government and combat oil smuggling, Department of Finance officials said. Commissioner Isidro S. Lapeña told reporters recently that the DOF-attached Bureau of Customs had already created a technical […]

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Senate version sets higher excise taxes on cars

The latest Senate version of the first comprehensive tax reform package is proposing that the excise tax on cars would have a higher rate next year from what was passed in the Lower House last May, a move which raises prices beyond the comforts of the automobile industry. Senate Bill (SB) 1592, which is supported […]

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ACC eyes Asean BMW suppliers

Asian Carmakers Corp. (ACC), the country’s official BMW distributor, is considering importing its vehicles from Asean neighbors, instead of continuing sourcing its supply from Germany and the United States. The shift may be made if the planned higher excise tax on cars will affect demand for BMW vehicles, a top official said. Company president Maricar […]

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Senators warn P6 tax on fuel inflationary

The government proposal to impose excise taxes on fuel could lead to price increases that would burden poor Filipinos, two senators said on Sunday. Sen. Sonny Angara, chair of the Senate ways and means committee, said the Department of Social Welfare and Development (DSWD) was against the P6 excise tax on fuel under the administration’s […]

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European chamber wants status quo on car taxes

The European Chamber of Commerce of the Philippines (ECCP) is worried over the looming increase in excise tax on automobiles, raising concern that this will push European car makers “to be even more disadvantaged” in the local market, a top official said. ECCP president Guenter Taus said that European brands in the local car market […]

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Senate wants higher taxes on third, fourth vehicle

How about imposing higher taxes on the third or fourth car that would be registered under the same name? This was one option that Senator Sonny Angara, chair of the Senate committee on ways and means, would like the Department of Finance (DOF) to study. “To free up road space, we will look into imposing […]

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May 23, 2018

The Porsche Macan and I have very fond memories. I was first able to sample the car in early

May 16, 2018

Porsche makes the extremely desirable GT3 even more so—by making you work.

May 02, 2018

Last April, my husband and I attended the Entrepreneurs Organization’s Global Leadership Conference (EOGLC) in Toronto.