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Trump threatens tariffs on EU if no trade deal reached

WASHINGTON, United States – US President Donald Trump threatened Wednesday to impose tariffs on European auto imports if he is unable to strike a trade deal with the EU. “We’re negotiating. If we don’t make the deal, we’ll do that,” Trump told reporters in response to a question on new tariffs. Trump’s renewed threat against […]

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Drilon: Let the President decide on Road Board abolition

MANILA, Philippines — Congress should let President Rodrigo President decide on the measure seeking to abolish the corruption-plagued Road Board, Senator Franklin Drilon said on Monday. “The bill should be sent immediately to the President’s desk for his action. We should let the President decide. It is a political decision,” Drilon said in a statement. […]

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November vehicle sales plunge

Vehicle sales dropped 23.4 percent in November, the biggest decline in the past few months. Official data showed that vehicle sales plunged to 31,258 units from 40,799 units sold in the same month last year. The latest figures brought sales since January to 325,465 units, down 14.4 percent from the 380,179 units sold in the […]

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Alvarez: House row with Diokno about control of road user’s tax

Lawmakers have earned and stand to earn huge kickbacks from road projects funded by the P45-billion road user’s tax controlled by the Road Board, which Malacañang and the Senate want abolished against the wishes of the House leadership, former Speaker Pantaleon Alvarez said on Sunday. The allies of Speaker Gloria Macapagal-Arroyo wanted to control the […]

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F1 champion Hamilton avoided taxes on luxury jet – leaked docs

Formula One champion Lewis Hamilton avoided paying taxes on his private jet using an elaborate scheme that is now under investigation by British tax authorities, new leaked documents has revealed. The driver received a $4.4 million (£3.3 million or €3.7 million) value-added tax (VAT) refund in 2013 after his luxury plane was imported into the […]

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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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Going high-end: what to buy before excise tax increases

It’s a twist on the “What car would you buy if you won the lotto” question. This time, it’s: “What car will you buy before the excise tax increases?”

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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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3-step oil excise tax hike eyed

As prices of oil products as well as vehicles will increase under the proposed first package of the Duterte’s administration comprehensive tax reform program, inflation is seen to rise 3 percent or within the government’s target next year, according to the Department of Finance. House Bill (HB) No. 4774 filed by House ways and means […]

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Higher oil tax faces rough sailing in Senate

Tax reform, especially lowering personal income tax rates, will be high in the Senate’s priority when sessions resume today, but Senate President Aquilino Pimentel III said they would continue to oppose moves to slap new taxes. “Tax reform is very high in our priorities, but I think the Department of Finance should explain it more […]

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Feb 20, 2019

A few years ago, I had the chance to visit Nissan’s all-new factory worth $360 million in Samut Prakarn,

Feb 20, 2019

We tend to be asked this question in particular about specific vintage cars or the more modern Porsche GT

Feb 13, 2019

You've been there. You forgot to buy some sprinkles and frosting that your daughter needs for school tomorrow, or

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