Trade and Industry Secretary Alfredo Pascual said that the agency supports the temporary removal of import tariffs for electric vehicles (EVs) for a period of five years.
'DTI proposed the temporary removal of tariffs on EVs for a period of five years... the agency believes that the measure will help develop the local EV market and encourage consumers to consider shifting to EVs for a cleaner and greener transportation option,' Pascual said in a statement.'The temporary elimination of tariffs is seen to drive down the purchase of EVs, thereby generating increased demand and encouraging investments in EV charging stations,' he added.
Several stakeholders of the e-motorcycle and vehicle market saw this move as 'unjustified' as the majority of Filipinos use motorcycles, with at least eight million units registered with the Land Transportation Office.In January, Malacañang released Executive Order No. 12 series of 2023 which modified the tariff rates for certain EVs and its components to zero percent, with the exclusion of e-motorcycles which is still subject to 30 percent tariff rate.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
DICT to meet industry stakeholders to discuss next steps on SIM registration
Read more »
4 solons push bid to revive moribund PHL salt industry | Jovee Marie de la CruzLAWMAKERS want Congress to help President Ferdinand Marcos Jr. rejuvenate the now moribund salt industry in the Philippines by approving a bill creating an interagency Philippine Salt Industry Development Council (PSIDC). In filing House Bill (HB) 7357, Camarines Sur Reps LRay Villafuerte, Miguel Luis Villafuerte and Tsuyoshi Anthony Horibata, and Bicol…
Read more »
Trade chief wants to limit annual holidays to 10'NYA SUGOT MO? Mga ka-Siloys, mosugot mo kung gikan sa 18 ka holidays 10 na lang jud ang ipabilin? Unsa man ang angay ipabilin nga holidays? Share your answers in the comments para masugdan na ang init nga diskusyon! CDNDigital READ:
Read more »
Trade chief wants to limit annual holidays to 10Noting that the many holidays in the country have become “an issue” to the business sector, Trade Secretary Alfredo Pascual said he wants to limit the number of annual holidays to 10. CDNDigital
Read more »
PH nears decision on new regional trade agreementThe Philippines is nearing its decision whether to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, with trade officials currently awaiting the results of a commissioned study to determine its economic impact on the country.
Read more »
Local trade volume shrinks 20.1% in ’22–PSA | Cai U. OrdinarioTHE volume of domestic trade contracted 20.1 percent in 2022, according to the Philippine Statistics Authority (PSA). The data showed the quantity of domestic trade declined to 18.63 million tons in 2022 from 23.31 million tons recorded in 2021. The total value of domestic trade in 2022, meanwhile, amounted to…
Read more »