excise

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.

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