#car tax

With the increase in excise tax finally in effect, thanks to the Tax Reform for Acceleration and Inclusion (TRAIN) package, many are curious - even fearful - of how this will affect the pricing of vehicles in the Philippines. Luckily, Toyota Philippines has released the pricing lists of their cars on their official website. [table id=592 /] Stay tuned for the 2018 price list of other car brands in the Philippines. 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.   [table id=323 /] *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. Since traffic and the sheer volume of cars in Metro Manila has been one of the biggest problems for so many years, the current administration have been looking for ways to decongest the streets especially EDSA. Read more in our articles including "Toyota Philippines Car Prices for 2018" and "DOF clarifies proposed Car Tax".