Apparently, luxury watches are not considered ‘non-essential’ goods
Watch collectors looking to build up their Rolex stash, here's some good news for you to start the week: The Department of Finance (DOF) has ruled that Rolex watches are indeed immune from excise tax.This news reverses a previous ruling
Money is tight
So it turns out a lot of you guys aren't happy with the Department of Finance's (DOF) proposal to raise taxes in order to deal with the country's debt problems. Well, there is another option, but it's one
It doesn’t stop with trucks and motorbikes
Earlier today, we got hold of the Department of Finance's (DOF)"fiscal consolidation and resource mobilization plan" and reported on the agency's intent to repeal the excise tax exemption for pickups and impose them for motorcycles-measures proposed in an
Time to pay up
We don't want to cause panic here, but if you're considering buying a pickup, you might want to think about pulling the trigger at your dealership sooner rather than later.Top Gear Philippines was able to get hold of the
The President has approved this suggestion from the Department of Finance
Lawmakers and motorists alike have brought up the idea of suspending the collection of excise taxes on petrol products in light of the rising fuel prices. Unfortunately, that probably won't be happening anytime soon.President Rodrigo Duterte in a cabinet meeting
Details on the transport of food and goods, travel for work
Last night, the Philippine government raised the nation's COVID-19 alert status to code red sublevel 2. To prevent the spread of the virus within the country, authorities announced domestic travel restrictions on all forms of transport in and out of
The last adjustment was in 2004
A significant increase to the country's road user tax, also referred to as the motor vehicle user's charge (MVUC), is looking likelier than ever after the House of Representatives committee on ways and means approved a 90% increase to the
Is this fair?
If one congressman has his way, motorcycle owners might not be affected by a potential motor vehicle user's charge (MVUC) increase.According to a recent report by the Philippine Star, Albay Representative Joey Salceda plans to submit a proposal which would
Stay informed
Has a sales attendant or dealership recently tried to convince you to buy a brand-new car by saying there's a looming tax hike? Yeah, don't buy it. This isn't 2017 all over again.To keep car buyers informed
It was inevitable
Well, we all knew it was coming. A report by CNN Philippines says that the Department of Finance (DOF) is warning consumers to expect higher fuel excise in the coming weeks. This comes off the heels of last year's drama,
Uh-oh
So it looks like next year's oil price hike might still be a go.According to a report by GMA News, the Duterte administration's economic advisers have done a 180 on its recommendation to suspend the increase of excise taxes
Amid rising oil prices and inflation
Car owners and operators across the country have undoubtedly felt the effects of the increased fuel prices under the Tax Reform for Acceleration and Inclusion (TRAIN) law. According to the Department of Energy (DOE), the average cost of 91-octane gasoline as
It's a considerable jump
In case you missed it, the Department of Finance (DOF) is currently eyeing to increase the annual registration fees for cars in 2019, and is already drafting an executive order to raise the motor vehicle user's charge (MVUC). Now, we have
Will this push through?
The Department of Finance (DOF) is preparing an order which will increase the amount motorists will have to pay to register their vehicles.According to a report by the Manila Bulletin, the government agency wants to raise the motor vehicle user's
We'll be able to drive (without ro-ro) from Luzon to Mindanao
The government announced plans to build eight major bridges that will connect the Visayas region to Luzon and Mindanao, Department of Finance (DOF) Secretary Carlos G. Dominguez said in a speech Thursday, April 19, during the Philippine Economic Briefing in Cebu City.
It actually makes sense
You might have seen posts being shared on social media about the pending increase in fuel prices as part of the Tax Reform for Acceleration and Inclusion Act. There are calls on Facebook to gas up before January 1, 2018, because after
Luxury cars will actually be 'cheaper'
NOTE: The Honda CR-V in the infographic is still the previous generation, hence the lower price than the new base model CR-V.When the Department of Finance first released its early proposals for comprehensive tax reforms earlier this year, many
One step closer to reality
The new tax reform law, which includes higher taxes for automobiles, is now one another step closer to reality.Voting 17-1, the Senate approved its version of the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) yesterday on its third
DOF presents suggested prices under proposed excise tax
We recently reported that after-sales service in car dealerships is sagging overall. Does it have something to do with the volume of cars on the road, perhaps? Car brands are also selling their stocks in droves, and this is surely bringing
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