Vehicle Excise Tax News

[OTEP]

Max,

They were trying to promote fuel efficiency noon. Kasi hindi pa high tech ang mga engines.

[MAXBUWAYA]

siguro its time na palitan na nga!

[tebs]

may tanong ako,

tataas ba presyo ng 4x2 na rav4?

[mbt]

hindi siguro

[20vanda01]

after reading from page 1 to page 9, nalito na ako sa tax scheme na 'yan. 14 days na lang magkakaalaman na.

[boybi]

oct 15 ang tentative implementation ng bi-cameral version ng new excise tax. yung sa sept. 5 or 9, BIR version yun. hindi na ito maipapatupad since approved na yung bi-cameral version. this i think will be signed by the president within the week.

[kevinp]

sana ang jeep grand cherokee bumaba ang presyo! tingin ko yung rav 4 (both SV and 4x4) bababa yung price. general rule of thumb, any vehicle na di "10-seater" more or less bababa ang price.

[kyle618]

oct 15 ang tentative implementation ng bi-cameral version ng new excise tax. yung sa sept. 5 or 9, BIR version yun. hindi na ito maipapatupad since approved na yung bi-cameral version. this i think will be signed by the president within the week.

AMEN! thank you lord!

[MAXBUWAYA]

eto nanaman pa move move ang implementacion, mga manufacturer nag susuffer! at consumer!

Pambihira talaga!

[explorer]

from inq7.net.....

Macapagal signs new law on vehicle taxation system
Posted: 3:20 PM | Aug. 29, 2003

PRESIDENT Gloria Macapagal-Arroyo signed into law on Friday a measure reforming the country's 20-year old motor vehicle taxation system.

The new law will involve the adoption of a value-based scheme to compute the excise tax on vehicles and doing away with the current system based on engine displacement.

The new law also removed the previous tax exemptions given to buyers of automobiles with seating capacity of 10 or more people.

"The automobile excise tax reform measure symbolizes our political will to make the tax system work. Now, there will be no more circumvention of rules (which was) a sin in the past," Ms Macapagal said in a speech at signing ceremonies at the presidential palace.

She said the new law would serve as a disincentive to tax evasion and smuggling, adding that it will also improve the prospect of global automotive manufacturers investing in and setting up operations in the Philippines.

Under the new structure, vehicles with a net manufacturing price of 600,000 pesos and less will have an excise tax rate of two percent, like the previous system based on engine displacement.

Buyers of vehicles worth 600,001 to 1.1 million pesos will pay an effective tax rate of 2.0 to 10.2 percent, down from 15 to 50 percent.

Automobiles worth 1.1 million to 2.1 million pesos will be imposed a tax of 10.2 to 24.4 percent, against 15 to 50 percent previously.

Vehicles over 2.1 million pesos shall have a lower tax rate of 24.4 percent, down from 50 percent.

Under the new law, 10-seater cars including Asian Utility Vehicles (AUVs), Sports Utility Vehicles (SUVs), vans and pick-up trucks would no longer be exempted from excise tax. Only ambulances and fire trucks will be given the said tax break, radio dzBB reported.

The passage of the law is expected to jack up the prices of top sellers including the Toyota Revo, Isuzu Crosswind and Mitsubishi Adventure, which fall under the AUV category, and the Toyota RAV 4 and Honda CR-V, which fall under the SUV category.