Excise Tax? When June 2017 or 2018?

[dos2]

May EV na ba nagbebenta? Mga magkano kaya? Leaf sana idala dito sa atin


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Parang wala pa nga, pero posibleng magkaroon na next year given the tax break.

https://www.topgear.com.ph/news/car-...lly-make-sense

"Sadly, the BYD e6 isn't for sale in the Philippines.

This is because of delays in the implementation of the Alternative Fuel Incentives Act, which would allow the Chinese MPV to come in tax-free at close to P2.65 million. Without tax breaks, it currently costs P5 million to P6 million to import. That's a hefty sum for a five-seater MPV."

[ice15]

Report: It looks like these will be your new car taxes | TopGear Ph

The latest numbers regarding automotive excise taxes are as follows:

*4% for cars priced P600,000 and below

*10% for cars priced P600,000 to P1 million

*20% for cars priced P1 million to P4 million

*50% for cars priced above P4 million

Not so bad... Although sana cars under the CARS Program are exempted from taxes.

[winter789]

I've read na exempted ang pickup trucks... does it include the Hilux, Rangers, etc.?

[StockEngine]

I've read na exempted ang pickup trucks... does it include the Hilux, Rangers, etc.?

which pickup trucks ang hindi included?

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[gongrhey]

Post ng tax lawyer friend ko:

The BICAM Committee has finally reconciled the House and Senate versions of the tax reform bill. Here are the highlights of the reconciled/consolidated bill:

■ Workers earning P250,000 are exempt from paying personal-income tax; 13th month pay’s tax-exempt ceiling raised to P90,000;

■ P6 tax per liter for juices and energy drinks and P12 tax per liter for beverages with high-fructose corn syrup

■ Mining—double the rates;

■ Auto excise—4 percent for up to P600,000; 10 percent for over P600,000 to P1 million; 20 percent for over P1 million up to P4 million; and 50 percent for over P4 million;

■ Tobacco tax—P32.50 effective January 1, 2018 to June 30, 2018; P35 effective July 1, 2018 to December 31, 2019; P37.50 (24 months), P40 (24 months), 4-percent annual increase after;

■ Oil excise—gasoline P7, Av gas P4, asphalts P8, kerosene P3, diesel P2.50, LPG P1, naptha P7, Ref. fuel P8, bunker fuel P2.50, lubricating oil P8, paraffin wax P8, petcoke P2.50, all petroleum products used as input, feedstock, raw materials for petrochem and refining or as replacement fuel are exempt;

■ Cosmetic procedures—5 percent rate;

■ Coal— Excise tax P50 (2018)-P100 (2019)-P150(2020)

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[Verbl Kint]

https://uploads.tapatalk-cdn.com/201...4a04e57e41.jpg

Attached photo is an fb post by someone from Ford (prolly wasn't supposed to be a public post). Time to dump inventory!

Text sms below to me from a car dealership (clue: panay AWD cars nila). They sent that this afternoon after the new excise tax hierarchies came out online. They sent this after repeatedly insisting last Friday na out of stock daw at di na aabot new stocks before Jan 8.

"Good morning Sir. Sir gusto nyo ipila ko na po kayo sa Cool Gray. Normally Sir at the end of the month may mga units naman na po. Refundable naman po Sir yung reservation. Ty"

It looks like I'm not buying a car until after Jan 1.


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[dos2]

https://uploads.tapatalk-cdn.com/201...4a04e57e41.jpg

Attached photo is an fb post by someone from Ford (prolly wasn't supposed to be a public post). Time to dump inventory!

Text sms below to me from a car dealership (clue: panay AWD cars nila). They sent that this afternoon after the new excise tax hierarchies came out online. They sent this after repeatedly insisting last Friday na out of stock daw at di na aabot new stocks before Jan 8.

"Good morning Sir. Sir gusto nyo ipila ko na po kayo sa Cool Gray. Normally Sir at the end of the month may mga units naman na po. Refundable naman po Sir yung reservation. Ty"

It looks like I'm not buying a car until after Jan 1.


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Nahalata ang modus ng dealer... hahah

[StockEngine]

is the fuel tax staggered for several years?

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[dos2]

is the fuel tax staggered for several years?

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Yes. Magmamahal din pala ang airfare since malaking cost nila ang aviation gas. Tsk tsk

Diesel, which at present has no tax, would be imposed P2.50 per liter in 2018, P4.50 in 2019, and P6 in 2020.

LPG would have a tax of P1 in 2018, P2 in 2019, and P3 in 2020.

For gasoline, from the current tax of P4.35 per liter, it would be imposed a levy of P7 in 2018, P9 in 2019, and P10 in 2020.

For 2018, aviation gas would be taxed P4 per liter; asphalts P8 per kilogram; kerosene P3; naphtha P7; bunker fuel P2.50; lubricating oil P8; paraffin wax P8; and petcoke P2.50.

All petroleum products used as input, feedstock, raw materials for petrochem, and refining or as replacement fuel are tax-exempt.

Higher take-home pay but pricier cars, fuel, tobacco by 218

[Verbl Kint]

Pati bilihin tataas kasi tataas gasolina. Kuryente tataas rin.

Mas malaki nga take home ng salaried pero kakainin naman ng artificial inflation. Wala rin.

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[ice15]

Pati bilihin tataas kasi tataas gasolina. Kuryente tataas rin.

Mas malaki nga take home ng salaried pero kakainin naman ng artificial inflation. Wala rin.

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Actually naawa ako sa minimum wage earners since tax free naman sila...

Tataas gastusin pero wala silang gain sa bagong taxes.

[Verbl Kint]

Can someone please check if my math below is correct?

Chevrolet Camaro 6.2 V8 2SS -- Current SRP = ₱ 4,138,888

On the old hierarchy, the V8 Camaro falls into the "Over ₱2.1M" category. Let's first remove e-VAT:

₱ 4,138,888 divided by 112% = ₱ 3,695,435.71

Assuming a profit margin of 15% (very conservative as some car brands go higher than 20%):

₱ 3,695,435.71 divided by 115% = ₱ 3,213,422.36

We then remove the fixed and marginal tax to get the estimated net manufacturer's price:

₱ 3,213,422.36 - ₱ 512,000 = ₱ 2,701,422.35
₱ 2,701,422.35 - ₱ 2,100,000 = ₱ 601,422.36
₱ 601,422.36 divided by 160% = ₱ 375,888.98

Estimated Net Manufacturer Price = ₱ 2,475,888.98

Add new 2018 excise tax (20% only since net retail price is below ₱4M), profit margin, and e-VAT:

₱ 2,475,888.98 * 120% = ₱ 2,971,066.78 -> with new excise tax
₱ 2,971,066.78 * 115% = ₱ 3,416,726.80 -> with profit margin
₱ 3,416,726.80 * 112% = ₱ 3,826,734.02 -> with e-VAT

2017 SRP: ₱ 4,138,888
estimated 2018 SRP: ₱ 3,826,734.02

Price difference: ₱ 312,153.98

I hope someone with accounting/taxation expertise can step in and correct any errors on the above.

[AKOSIB8Y]

Can someone please check if my math below is correct?

Chevrolet Camaro 6.2 V8 2SS -- Current SRP = ₱ 4,138,888

On the old hierarchy, the V8 Camaro falls into the "Over ₱2.1M" category. Let's first remove e-VAT:

₱ 4,138,888 divided by 112% = ₱ 3,695,435.71

Assuming a profit margin of 15% (very conservative as some car brands go higher than 20%):

₱ 3,695,435.71 divided by 115% = ₱ 3,213,422.36

We then remove the fixed and marginal tax to get the estimated net manufacturer's price:

₱ 3,213,422.36 - ₱ 512,000 = ₱ 2,701,422.35
₱ 2,701,422.35 - ₱ 2,100,000 = ₱ 601,422.36
₱ 601,422.36 divided by 160% = ₱ 375,888.98

Estimated Net Manufacturer Price = ₱ 2,475,888.98

Add new 2018 excise tax (20% only since net retail price is below ₱4M), profit margin, and e-VAT:

₱ 2,475,888.98 * 120% = ₱ 2,971,066.78 -> with new excise tax
₱ 2,971,066.78 * 115% = ₱ 3,416,726.80 -> with profit margin
₱ 3,416,726.80 * 112% = ₱ 3,826,734.02 -> with e-VAT

2017 SRP: ₱ 4,138,888
estimated 2018 SRP: ₱ 3,826,734.02

Price difference: ₱ 312,153.98

I hope someone with accounting/taxation expertise can step in and correct any errors on the above.

Sir Verbl Kint sample compute nga po sa Forte V 4X2, SRP at present is 1,833,000.00 or 1,803,000 (discount of 30K). Thanks po.

"ad astra per aspera"

[Verbl Kint]

Sir Verbl Kint sample compute nga po sa Forte V 4X2, SRP at present is 1,833,000.00 or 1,803,000 (discount of 30K). Thanks po.

"ad astra per aspera"

Toyota Fortuner 2.4 V Diesel 4x2 AT
- Current SRP: ₱ 1,833,000
- e-Vat set at 12%
- Computed using 15% profit margin
- Old Excise Tax bracket: ₱1.1M to ₱2.1M; Fixed Tax: ₱112,000; Marginal Tax 40% of value in excess of ₱1.1M
- 2018 Excise Tax bracket: ₱1M to ₱4M; Fixed Tax: None; Marginal Tax 20%

• 2017 SRP: ₱ 1,833,000
• 2018 SRP: ₱ 1,933,254.86
• Price difference: ₱ 100,254.86

Disclaimer:
Please do not take the above seriously as we haven't had confirmation from a tax/accounting expert that the math above is correct. The profit margin of 15% is also a wild guess at this point.

[AKOSIB8Y]

Toyota Fortuner 2.4 V Diesel 4x2 AT
- Current SRP: ₱ 1,833,000
- e-Vat set at 12%
- Computed using 15% profit margin
- Old Excise Tax bracket: ₱1.1M to ₱2.1M; Fixed Tax: ₱112,000; Marginal Tax 40% of value in excess of ₱1.1M
- 2018 Excise Tax bracket: ₱1M to ₱4M; Fixed Tax: None; Marginal Tax 20%

• 2017 SRP: ₱ 1,833,000
• 2018 SRP: ₱ 1,933,254.86
• Price difference: ₱ 100,254.86

Disclaimer:
Please do not take the above seriously as we haven't had confirmation from a tax/accounting expert that the math above is correct. The profit margin of 15% is also a wild guess at this point.

Salamat po! [emoji4]

Disclaimer noted.

"ad astra per aspera"

[boytsiks]

Toyota Fortuner 2.4 V Diesel 4x2 AT
- Current SRP: ₱ 1,833,000
- e-Vat set at 12%
- Computed using 15% profit margin
- Old Excise Tax bracket: ₱1.1M to ₱2.1M; Fixed Tax: ₱112,000; Marginal Tax 40% of value in excess of ₱1.1M
- 2018 Excise Tax bracket: ₱1M to ₱4M; Fixed Tax: None; Marginal Tax 20%

• 2017 SRP: ₱ 1,833,000
• 2018 SRP: ₱ 1,933,254.86
• Price difference: ₱ 100,254.86

Disclaimer:
Please do not take the above seriously as we haven't had confirmation from a tax/accounting expert that the math above is correct. The profit margin of 15% is also a wild guess at this point.

Good morning Boss,

Pacompute nga rin, we are planning to get a City VX SRP = 920k

Malaki kaya ang difference.

Thanks


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[Verbl Kint]

Good morning Boss,

Pacompute nga rin, we are planning to get a City VX SRP = 920k

Honda City 1.5 VX NAVI CVT
- Current SRP: ₱ 913,000
- e-Vat set at 12%
- Computed using 20% profit margin
- Old Excise Tax bracket: ₱600K to ₱1.1M; Fixed Tax: ₱ 12,000; Marginal Tax 20% of value in excess of ₱ 600k
- Net Retail Price (less e-VAT, profit margin, and excise tax): ₱ 656,096.23
- 2018 Excise Tax bracket: ₱600k to ₱1M; Fixed Tax: None; Marginal Tax 10%

• 2017 SRP: ₱ 913,000.00
• 2018 SRP: ₱ 969,972.67
• Price Difference: ₱ 56,972.67

Disclaimer:
Please do not take the above seriously as we haven't had confirmation from a tax/accounting expert that the arithmetic above is correct. The profit margin of 20% is also a wild guess at this point. The dealer might even choose to have a smaller profit margin next year since car sales are expected to slump. The usual annual dealer/distributor increase has also not been factored in. YMMV.

[Wh1stl3r]

Toyota Fortuner 2.4 V Diesel 4x2 AT
- Current SRP: ₱ 1,833,000
- e-Vat set at 12%
- Computed using 15% profit margin
- Old Excise Tax bracket: ₱1.1M to ₱2.1M; Fixed Tax: ₱112,000; Marginal Tax 40% of value in excess of ₱1.1M
- 2018 Excise Tax bracket: ₱1M to ₱4M; Fixed Tax: None; Marginal Tax 20%

• 2017 SRP: ₱ 1,833,000
• 2018 SRP: ₱ 1,933,254.86
• Price difference: ₱ 100,254.86

Disclaimer:
Please do not take the above seriously as we haven't had confirmation from a tax/accounting expert that the math above is correct. The profit margin of 15% is also a wild guess at this point.

I got the same figure if distributor + dealer markup is at 15%

[kruser]

What about for Toyota Hilux 4x2 G AT?
Current SRP: 1,355,000

If this is not included in the bill that there will be no tax on pickup trucks

[Juan Martinez]

pick up trucks and motorcycles are exempted from excise taxes