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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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New taxes seen lower on income, higher on cars

The government’s tax reform package passed a major hurdle when the ways and means committee of the House of Representatives voted on Wednesday to approve a version of the measure that could make auto makers heave a sigh of relief. The committee, chaired by Quirino Rep. Dakila Cua, voted 17-3, with four abstentions, to pass […]

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More views, theories on the excise tax

The increase in the excise tax is a certainty as far as many people in government and the auto industry are concerned. It’s only a matter of how much, and when.

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ADB backs tax hike on oil, vehicles

mias

Manila-based multilateral lender Asian Development Bank (ADB) has expressed support for the government’s plan to hike excise taxes on oil products and vehicles that Finance Secretary Carlos G. Dominguez III had said would not hurt the auto industry’s sales growth. During a recent meeting between Dominguez and ADB president Takehiko Nakao, the latter was quoted […]

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New excise tax rates for autos backed

The Bureau of Customs is backing up the Department of Finance’s proposal to restructure the excise tax system for brand new vehicles under its first tax reform package. In a statement, the BOC said it was fully supporting House Bill No. 4774, which contained the DOF’s proposal to lower personal income taxes, broaden the value-added […]

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Jul 26, 2017

They say all good things come in threes. Yet this past month, it seems that five is the number

Jul 26, 2017

I was fortunate enough to spend an entire day driving at the Sepang International Circuit’s North Course and its

Jul 12, 2017

Stuttgart and June means the International Engine of the Year Awards, and this year marked some things that stayed