#taxes on cars

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. In other fronts, the House of Representatives are looking into reducing the volume of cars by increasing the Ad Valorem Tax. This is perhaps similar to what Singapore is doing to reduce sales of new cars. The proposed bill will add the following tax brackets into sold cars at different price levels: Php600,000 and below: 5% (+Php30,000) Php600,000 - Php1,100,000: 20% (+Php120,000 - Php220,000) Php1.1M - Php2.1M: 40% (Php440,000 - Php840,000) Over Php2.1M: 60% (Php1.26M and higher) Yet another reader suggested that we provide a list of affordable sports cars after reading our 10 most expensive luxury cars sold locally. So we scoured the Internet for 10 sports cars that offer a balance in speed, lightweight body, and more affordable price tag as an alternative to other sporty vehicles amounting to Php5M and above. The list comprises of sports cars as well as those marketed as ones that don't cross over the Php2.5M limit and is available or ready for purchase here in the Philippines. Read more in our articles including "Proposed Tax Bill on Cars goes up to 60%" and "10 Affordable Sports Cars Sold in the Philippines".