Search CarGuide.PH

Saturday, August 14, 2021

Expecting Your DTI Safeguard Bond Refund? Not So Fast


With the DTI junking the safeguard duty on imported cars and light commercial vehicles effective August 12, 2021, carmakers have stopped collecting the so-called safeguard bond. While those who have collected them starting February of this year have started releasing advisories on how they intend to give the monetary bond back to customers.

Take note that affected customers can’t just waltz into their selling dealership and expect a check right then and there. Why? Well, the Bureau of Customs (BOC) has yet to issue the directive on the refund. Even so, carmakers are following a prescribed schedule when it comes to the release of these safeguard deposits. In short, you cannot just wave the acknowledgment receipt/official receipt and demand payment. You have to contact your selling dealership to find out the proper schedule and procedure involved.

Check out the full list of announcements below. This page will be updated as more carmakers release their official announcements.
  • Cherydid not collect safeguard duty.
  • Chevrolet – did not collect safeguard duty.
  • Fordincreased prices on Ranger and Territory. No word if they will announce price adjustments after the discontinuation of the safeguard duty.
  • GACincreased prices on their line-up. No word if they will announce price adjustments after the discontinuation of the safeguard duty.
  • Geelyannounced the collection of safeguard duty, but did not collect safeguard duty in the end.
  • Honda – With the recent lifting of the Provisional Safeguard Bond for imported motor vehicles, Honda Cars Philippines wishes to inform our customers that the Safeguard Deposit amount collected will be returned, as follows. Customers will be contacted by their respective dealers.
    • Brio S/V – P 40,000
    • Brio RS / RS Black Top – P 60,000
    • City Sedan (all variants) – P 7,000
    • City Hatchback – P 13,000
    • Civic E/RS – P 10,000
    • BR-V S/V – P 30,000
    • HR-V RS – P 30,000
    • Click here to find out how you can get your refund via bank transfer.
  • Hyundaidid not collect safeguard duty.
  • Isuzu – Relative to the dismissal of the petition for general safeguard measures on the importation of motor vehicles, all Isuzu dealerships shall return to its customers any security deposits that have been previously collected upon purchase of specific Isuzu vehicles. Isuzu dealers will start contacting all concerned customers to discuss claim procedure and schedule of release of said security deposit.
  • JAC – did not collect safeguard duty.
  • Kia – With the Department of Trade and Industry’s dismissal for safeguard measures on vehicle imports, security deposits amounting to P 70,000 to P 110,000 that were previously collected will be refunded to affected customers. Kia dealers will get in touch with their customers for the schedule and process of refund.
  • Maxus – The Department of Trade and Industry (DTI) published Administrative Order No. 21-04 on August 11, 2021 dismissing the petition for general safeguard measures on the importation of passenger cars and light commercial vehicles, based on the formal recommendation from the Tariff Commission. In light of this announcement, our dealerships will no longer require a deposit for safeguard duty effective immediately. Suggested retail prices for all Maxus vehicles remain the same and as previously communicated. Maxus dealers will return to customers the amounts previously collected as security deposits on its sales of vehicles and they will get in touch with concerned customers for the schedule and process of refund claim.
  • Mazda – Steven Tan, President of Mazda Philippines sent this message: “Only a limited number of customers were affected by the safeguard duties since the CX-5 and CX-8 were exempted. All other sales came from vehicles brought in before the implementation of the safeguard bond. Affected customers though can expect a call or message from their selling dealer regarding the status and release of their refund.”
  • MGdid not collect safeguard duty.
  • Mitsubishi – We are pleased to announce that the Department of Trade and Industry (DTI) has dismissed the petition in the general safeguard measure case on imported motor vehicles. In view thereof, Mitsubishi Motors Philippines Corporation will no longer require safeguard duty deposits for its sales. Safeguard duty deposits previously collected by our dealerships will be returned to the affected customers. For concerned customers your selling dealership will reach out to you for the processing of your refund.
  • Nissan – Department of Trade and Industry (DTI) Administrative Order No. 21-04, published on August 11, 2021, dismissed the petition for general safeguard measures on the importation of passenger cars and light commercial vehicles, based on the formal recommendation from the Tariff Commission. In light of this development, the suggested retail price for the 2021 Nissan Navara has been adjusted last August 12. Nissan dealerships will be reaching out to our Navara customers entitled to safeguard duty rebates for the orderly and timely rebate process. For more information on the rebate process, customers can also call the Nissan Customer Assistance Center at (02) 8403-6593. Separately, Nissan also announced a price adjustment to their entire Navara line-up.
  • Ssangyong – did not collect safeguard duty.
  • Subarudid not collect safeguard duty.
  • Suzuki – In light of the Department of Trade and Industry (DTI)’s dismissal of the petition for general safeguard measures on the importation of motor vehicles, Suzuki Philippines Incorporated (SPH) would like to inform their valued customers that the collection of security deposits will be discontinued effective August 13, 2021. SPH will also return to its customers, the security deposits that have been previously collected on its sales of vehicles, once the refund has been directed by the Bureau of Customs. Our respective dealers will get in touch with the concerned customer for the schedule and process of their refund claim.
  • Toyota – In view of the dismissal of the petition for general safeguard measures placed on the importation of motor vehicles, Toyota is pleased to announce that it will return to its customers the security deposits that have been imposed and previously collected on its sales of motor vehicles. Furthermore, collection of safeguard deposits from new sales will be discontinued. Toyota dealers will contact their concerned customers for schedules to claim their refunds.
  • Volkswagen – The Department of Trade and Industry (DTI) published Administrative Order No. 21-04 on August 11, 2021 dismissing the petition for general safeguard measures on the importation of passenger cars and light commercial vehicles, based on the formal recommendation from the Tariff Commission. In light of this announcement, our dealerships will no longer require a deposit for safeguard duty effective immediately. Suggested retail prices for all Volkswagen vehicles remain the same and as previously communicated. Volkswagen dealers will return to customers the amounts previously collected as security deposits on its sales of vehicles and they will get in touch with concerned customers for the schedule and process of refund claim.

No comments:

Post a Comment

Feel free to leave your comment or share your views. Comments that are derogatory and/or spam will not be tolerated. We reserve the right to moderate and/or remove these comments.