We crunched the numbers
In 2017, the government imposed new excise tax rules on all automotive vehicles. The ruling-which spurred a buying spree prior to its implementation-essentially reduced the taxes paid for lower-priced vehicles, but raised taxes for models in the upper bracket.
Ah, good times
All this talk about excise taxes likely has many car buyers on the edge of their seats. If you'll recall, however, this isn't the first time the local auto industry has faced this kind of situation.Back in 2017 and
Is it time to pull the trigger on a brand-new truck?
Last week, the House Committee on Ways and Means approved the removal of the excise tax exemption for pickups, among other measures aimed at alleviating the country's debt problems. Worried? Don't worry, because so is the rest of the auto
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
More taxes might be coming
Motorists, brace yourselves. More taxes may be on the horizon.During a recent roundtable discussion with BusinessWorld editors, incoming head of the National Economic and Development Authority (NEDA) Arsenio Balisacan suggested that additional taxes may be needed if the country wants to
This, as fuel prices continue to skyrocket
Hoping that the government will intervene in the local fuel crisis by spending excise taxes on our fuel products? Don't hold your breath.In a press conference, incoming Philippine president Ferdinand Marcos Jr. was asked what he thought about a senator'
No word yet if the tax reform will also affect luxury cars and SUVs
Pickup trucks and motorcycles aren't the only vehicles to be affected by the Department of Finance's (DOF) proposed tax reforms-it appears even vintage cars may not also be safe from the new policies if and when they take effect.
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
Will this pan out in favor of the EV movement?
The local auto brands have spoken: The suspension of tariffs for electric vehicles (EV) means good things for the local auto industry.In a statement, the Chamber of Automotive Manufacturers of the Philippines (CAMPI) expressed support for a proposal by the Department
If this happens, we can expect to see more affordable EVs in our market
It's alarming how quickly fuel prices have skyrocketed as of late, particularly after the conflict between Russia and Ukraine began. This week alone, we saw a huge bump in gasoline and diesel prices. The worst part? This could be far from
Uh oh
The Department of Trade and Industry (DTI) isn't done tinkering with its imposition of safeguard duties on car imports just yet.The government agency has further narrowed down its list of countries exempted from its provisional safeguard duties on passenger cars
“The problem is that there isn’t much local manufacturing left to save”
It was shocking news to wake up to, on the first work week of the year, when the Department of Trade and Industry (DTI) announced that it would be slapping an additional P70,000-P110,000 bond on imported vehicles to preserve
See how the world of motoring has fared in the first few days of 2021
Here’s a simple explainer
The Department of Trade and Industry (DTI) dropped a bombshell to start off 2021, as the agency announced that it will be imposing new safeguard duties on imported vehicles in a bid to protect the local car manufacturing industry.If you've
The measure will take effect for 200 days starting January 20, 2021
Big news for the local automotive industry to start off 2021: The Department of Trade and Industry (DTI) has announced that it will impose certain cash bonds on imported vehicles as provisional safeguard duties.This decision comes as a response to the
Are you having a hard time looking for good motorcycle apparel?
Finding motorcycle gear that fits is a big issue for lady riders in the country. Gear manufacturers overwhelmingly cater to men, and limited options exist when it comes to physical stores. While some women get away with wearing men's gear (I
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
Do you agree?
Having a hard time because of higher fuel prices brought about by the Tax Reform for Acceleration and Inclusion (TRAIN) law? Don't worry, the Department of Energy (DOE) says, because it's a sacrifice for the benefit of the Philippines."We
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