The Department of Trade and Industry said that e-motorcycles may probably get their much-awaited tax break as the executive issuance that gives incentives to Electric Vehicles is up for review nine months from now.
Under the EO, different types of EVs and their components have received tax breaks, with the exclusion of e-motorcycles which are still subject to a 30 percent tariff rate. “DTI believes that this measure will help develop the local EV market and encourage consumers to consider shifting to EVs for a cleaner and greener transportation option,” DTI Secretary Alfredo Pascual said in a statement.
Several stakeholders of the EV industry aired their concerns when e-motorcycles were not given tax breaks and called on the concerned government agencies to amend the executive issuance.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Philippines Philippines Latest News, Philippines Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
E-vehicle industry hopeful of import tariff incentives next yearThe electric vehicle industry in the country is hopeful of more tax breaks after the Department of Trade and Industry (DTI) has endorsed a version of an executive order, which includes electric motorcycles in the import tariff incentives, in a move to expand and promote the electrification of the transport system in the country.
Source: manilabulletin - 🏆 25. / 51 Read more »
Auto industry sales improve 22% in AprilMotor vehicle sales went up 21.8 in April compared to the same month last year on improving economic situation and availability of a wider range of motor vehicle models, according to a joint report by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA).
Source: manilabulletin - 🏆 25. / 51 Read more »
IMO chief commends PH for passing maritime industry evaluationsInternational Maritime Organization Secretary-General Kitack Lim was elated with the positive results obtained by the Philippines in the Independent Evaluation (IE) held in December 2022 and European Maritime Safety Agency (EMSA) Inspection during the 44th Association of Southeast Asian Nations (ASEAN) Maritime Transport Working Group meeting in Da Nang City, Vietnam from May 9 to 11.
Source: manilabulletin - 🏆 25. / 51 Read more »