The Department of Trade and Industry (DTI) said Tuesday that electric vehicles, including e-motorcycles, could probably get their “tax break” in early 2024, as the executive order for incentives is up for review nine months from now.
The Department of Trade and Industry said Tuesday that electric vehicles, including e-motorcycles, could probably get their “tax break” in early 2024, as the executive order for incentives is up for review nine months from now.
According to DTI Secretary Alfredo Pascual, the agency initially endorsed a version of the EO where e-motorcycles are included in the tax incentives to the Office of the President as it supports the “electrification of transport.” "DTI believes that this 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., parts, and components. The EO will be subject to review one year from its implementation pursuant to the provisions of the issuance.
Under the said EO, various electric vehicles and their components will receive lower tariff rates from the previous 5 to 30% to 0% import duty, with the exception of e-motorcycles as they are excluded from the tariff suspension and are still subject to 30% import duty. National Economic and Development Authority Secretary Arsenio Balisacan, however, said the agency will focus on the probable inclusion of e-motorcycles under the executive order after stakeholders voiced out their concerns that it wasSeveral stakeholders in the EV industry voiced their concerns when e-motorcycles were not given tax breaks, prompting them to urge concerned government agencies to amend the EO.
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