Excise Tax? When June 2017 or 2018?

[Verbl Kint]

Got reliable information from friends in both the house and Senate that the bicam won't happen until after the Xmas break. ;)

[StockEngine]

Got reliable information from friends in both the house and Senate that the bicam won't happen until after the Xmas break. ;)

good stuff 🖒


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[bishop]

Ouch. Hopefully we get to take home the Hilux 2.4E we've been looking at before the excise tax hits.

[btdthat]

I think most of the press release by media and even DOF regards forecast car price hike due this tax code amendment are grossly overstated. I plan to purchase a Mazda CX5 in the 2M price range and based on the press the price increase is expected to be Php 500T. However when I do the computation myself the House version will cause an increase of Php 130T on phase 1 while the Senate version Php 220T. Hopefully the house version prevails. Also doubt if this will still take effect January 1, 2018 as it is already late November.

[onemanga31]

The ROHQ preferential tax rate is safe...for now...

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Abolishing the rohq rate is on the house bill 5636, you can find it on section 25 c,d and e.
Probably this is also on the senate version as angara said that there are small tax incentives that will be removed. Malas lang ng mga nasa rohq unless the company will shoulder the additional tax.

[tr1ck5h07]

Abolishing the rohq rate is on the house bill 5636, you can find it on section 25 c,d and e.
Probably this is also on the senate version as angara said that there are small tax incentives that will be removed. Malas lang ng mga nasa rohq unless the company will shoulder the additional tax.

Employees enjoying the 15% preferential income tax rate who were hired before Jan 1 2018 will get to keep enjoying the 15% rate until the end of their employment. Employees hired after Jan 1 2018 are those who are left out in the rain as they won't be getting the 15% rate any more.

[shadow]

Matuloy or hinde. It doesn't matter, if you need to buy a new car youll will buy ko matter what.

So I don't really see why people are so amped with this excise tax.

Makabili ka nga ngayon Let's say before the excise tax in few years bibili ka pa rin ng bagong kotse.


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[mda]

Matuloy or hinde. It doesn't matter, if you need to buy a new car youll will buy ko matter what.

So I don't really see why people are so amped with this excise tax.

Yung line of thinking I think is...

If you're buying a new car within the next 2-3 years, might as well get it now if the funds are available...

[jut703]

Kahit yung hindi kailangan ng kotse bumibili ng kotse bigla. 😂

One of the oldest ahente tricks in the book - artificial scarcity and "limited time" offers.

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[shadow]

Yung line of thinking I think is...

If you're buying a new car within the next 2-3 years, might as well get it now if the funds are available...

Masyado malayo yun 2-3 Years from ngayon bibili.


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[ale828]

Matuloy or hinde. It doesn't matter, if you need to buy a new car youll will buy ko matter what.

So I don't really see why people are so amped with this excise tax.

Makabili ka nga ngayon Let's say before the excise tax in few years bibili ka pa rin ng bagong kotse.


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For some people its more of what model version of the car to buy before the excise tax hits.
most buyers at the 1M-2M mark might have to buyer the lower model version rather than the TOTL model if naabutan sila ng excise tax.

[dos2]

Just an update : https://www.autoindustriya.com/auto-...companies.html

Tax reform law not yet finalized, but government advises auto companies to prepare to comply

No law has yet been finalized or signed, but it seems the government is already advising automobile companies to prepare themselves for the excise tax on cars.

That was the word given to AutoIndustriya.com from an executive in the auto industry involved in premium and luxury automobiles. Auto companies were given an advisory from the government to prepare for the immediate implementation of the comprehensive revised tax code, also known as Tax Reform for Acceleration and Inclusion Act (TRAIN).

The notice stated that new tax schedules will be implemented by January 1, 2018, even though the law itself has not yet been finalized. The tax reform law is only scheduled to start the bicameral conference today, November 27, 2017, in order to reconcile the differences between the Senate and House versions.

TRAIN is the centerpiece of President Duterte's promise to the public to lower personal income taxes for Filipinos. However, given the government's increased spending (particularly in major infrastructure projects under the Build! Build! Build! Program), the reduction in income taxes will have to be recouped via other means of taxation such as excise taxes on basic commodities such as sugar and fuel, as well as automobiles, particularly vehicles in the more expensive premium and luxury sectors.

For TRAIN to be implemented by January 1, 2018, the government's target is to have the final version signed into a Republic Act by the President and published in the Official Gazette by December 15, 2017.

Despite not having been signed into law yet, the tax reform is already having a marked effect on automotive distributors, particularly the premium and luxury brands; many executives are reporting dwindling stocks as their customers have advanced their automobile purchases to avoid the tax hikes as the proposed excise tax schedules will raise prices for more expensive vehicles significantly.

[minicarph]

Just an update : https://www.autoindustriya.com/auto-...companies.html

auto companies were given an advisory from the government to prepare for the immediate implementation of the comprehensive revised tax code, also known as Tax Reform for Acceleration and Inclusion Act (TRAIN).


.

o kita nyo sa acronym na lang talagang kelangan ng pondo ng MRT, is this coincidence or random chance. kita mo yun popular movie ng Korea yun Train to BUSAN, sobrang popular sya satin mga pinoy yun zombie movie na yun, so popular that pinoys wanted to know more about the Korean city kung meron tourist attraction. tapos malalaman natin later on ang nag-me-maintain pala ng MRT eh Busan Railways. I mean what are the odds d'ba

[wd420]

Ang anti poor naman netong excise tax

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[ntlogin]

o kita nyo sa acronym na lang talagang kelangan ng pondo ng MRT, is this coincidence or random chance. kita mo yun popular movie ng Korea yun Train to BUSAN, sobrang popular sya satin mga pinoy yun zombie movie na yun, so popular that pinoys wanted to know more about the Korean city kung meron tourist attraction. tapos malalaman natin later on ang nag-me-maintain pala ng MRT eh Busan Railways. I mean what are the odds d'ba

Ni railroad ang approval nyan. Build build build. Graft graft graft. Eh tangalin kaya pork barrel ng mga crocs at presidente.

[Verbl Kint]

No law has yet been finalized or signed, but it seems the government is already advising automobile companies to prepare themselves for the excise tax on cars.

That was the word given to AutoIndustriya.com from an executive in the auto industry involved in premium and luxury automobiles. Auto companies were given an advisory from the government to prepare for the immediate implementation of the comprehensive revised tax code, also known as Tax Reform for Acceleration and Inclusion Act (TRAIN).

I am not sure how reliable this article is considering the actual advisory itself (or any similar document) was not even shared. As far as I'm concerned, this is an auto executive trying to pump up more hype to reach his sales targets for 2017.

[papi smith]

Haha! Tama Sir Kint, the devil is in the details.

[BlancNoir]

Nagbago daw? 10% for cars below 1m and 20% for cars above 1m. Lol

Sabi nga ng carguide "land cruiser pa more!"

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[StockEngine]

and here weeeeeee gooo

Senate Passes New Vehicle Excise Tax on Third and Final Reading; It Makes Luxury Cars More Affordable | Philippine Car News, Car Reviews & Prices - ************

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[StockEngine]

politics won... reelection for the anti poor senators 😅

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