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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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Campi: Higher excise tax on vehicles ‘sending wrong signal’ to automotive investors

Auto industry players said the Department of Finance was sending a wrong signal to investors with its plan to raise excise taxes on vehicles, even as the government maintained that higher prices would not necessarily deter purchases. “Campi (the Chamber of Automotive Manufacturers of the Philippines Inc.) fully supports the initiative of government to raise […]

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DOF: Strong vehicle sales to continue despite higher excise taxes

MANILA —  The Department of Finance expects robust vehicle sales to continue even as the higher excise taxes to be slapped on vehicles loom. “In other Asean economies such as Indonesia and Malaysia, automobile excise tax rates go as high as 125 percent and 105 percent, respectively, yet their luxury car markets continue to thrive,” […]

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House approves increased taxes on automobiles, fuel

The House of Representatives passed on third and final reading President Duterte’s comprehensive tax reform package before the 17th Congress adjourned its first regular session. Voting 246-9-1, congressmen passed House Bill 5636, also known as the Tax Reform for Acceleration and Inclusion (Train). Opposition lawmaker Albay Rep. Edcel Lagman was the lone abstention to the […]

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Lexus’ happy problem

Dealers of luxury vehicles in the Philippines are currently struggling with a problem. It’s not exactly a crisis—at least, not yet—but it is testing the mettle and abilities of their local managers just the same. That’s because the local market for high-end automobiles and sport utility vehicles has experienced a surge in demand from Filipino […]

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Nov 15, 2017

Isuzu, in its commitment to provide the cleanest possible diesel powertrains in the country, has released their latest diesel