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Monday, August 9, 2021

DTI Set To Remove Safeguard Bond On Imported Cars, Light Commercial Vehicles


The Department of Trade and Industry (DTI) will soon stop the imposition of the safeguard duty on imported completely built-up passenger cars and light commercial vehicles. The order was signed last Friday, August 6 by Secretary Ramon Lopez.

This dismisses the case filed by the Philippine Metalworkers Alliance (PMA) following a determination by the Tariff Commission that there was no surge on the importation of CBU passenger cars and LCVs from 2014 to 2020.

The DTI expects the order to be published within this week.

Once the DTI Secretary’s order has been published, it will be forwarded to the Department of Finance with a request to order the Bureau of Customs to stop imposing the cash bond, and return all cash bonds posted by importers on the affected motor vehicles. This process may take anywhere from one to two weeks.

The lifting of the provisional safeguard duty will take effect upon issuance by the BOC of an order to do so.

The PMA alleged that there was surge of imported CBU passenger cars and light commercial vehicles that was causing damage to the domestic automotive manufacturing. This prompted the DTI to issue a provisional safeguard bond of P 70,000 per unit of imported CBU passenger cars and P 110,000 per unit of imported LCVs.

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