DOF clarifies proposed Car Tax - YugaTech | Philippines Tech News & Reviews

DOF clarifies proposed Car Tax




The Department of Finance (DOF) has made clarifications regarding the automobile excise tax.

Contrart to rumors that the whole excise tax scheme will be implemented and will further raise car prices, the DOF clarified that they are proposing a more progressive increase instead to help the consumers not feel the increase as much as they though it would.


 

 

Impact of auto excise tax to Automobile prices

Car ModelCurrent SRPNew SRP*
Hyundai Eon GLX M508,000517,103
Mitsubishi Mirage G4 GLX A/T680,000692,186
Toyota Vios 1.5 G A/T902,000942,678
Nissan Juke 1.6 A/T980,0001,034,656
Honda Civic RS Turbo A/T1,403,0001,538,475
Toyota Innova 2.8 E A/T1,222,0001,320,022
Mazda CX-5 2.0 2WD1,345,0001,465,064
Izuzu D-Max 4x2 LS M/T1,190,0001,282,288
Toyota Hiace 3.0 Grandia GL A/T1,725,0001,975,880
Ford Everest Titanium 2.2 4x21,739,0001,994,898
Toyota Fortuner 2.8 V 4WD2,126,0002,520,589
BMW X5 30d6,590,0008,409,328
Theoretical Luxury Car 110,000,00013,194,240
Theoretical Luxury Car 220,000,00027,226,240

*New SRP was computed as (net manufacturer’s price + excise tax + VAT)

Also mentioned. the revenues raised through the car excise tax will be used to improve traffic management solutions and fund climate change-resilient infrastructure.

 Source: DOF



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3 Responses

  1. Rabbitkun says:

    I think the added tax is fair enough naman.

    • Armitage says:

      Yup. It sounds fair. For people who crap money out of their asses. In case you forgot, there’s also a planned increase on fuel tax by upto Php 9.00/L if i’m not mistaken. That’s more than double than the current tax per litter by 2019. If fuel price increases, transport cost and PUV fairs will increase, this will also lead to increases in prices for basic commodities. So yeah, it sounds fair.

  2. pong says:

    Kasinungalinagn nanaman yan gagamitin daw sa traffic management saka climate change. pupunta lang yan sa corruption

    parang me bumbaba na propeta sa kalangitan at biglang nagkaunawa at magbabago ang mga kurakot sa politiko eh yung mining nga lang wala na pera pera nanaman

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