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Tuesday, April 26, 2022

Toyota Motor Philippines Logistics Is A Top Tax Payer Of BIR West Laguna


Toyota Motor Philippines Logistics, Inc. (TLI), a wholly-owned subsidiary of Toyota Motor Philippines Corporation (TMP), was recently recognized as the “Top 3 Taxpayer under Non-Individual Taxpayer Category” by the Bureau of Internal Revenue District Office (RDO) No. 57.

TLI remitted to the government a total of USD 1.25 million (P 65.17 million) in the form of withholding taxes for taxable year 2021. The amount is one of the highest collected by the RDO from the whole of Cabuyao, Santa Rosa, Biñan and San Pedro in Laguna.

TLI, a Philippine Economic Zone Authority or PEZA-registered Ecozone Logistics Service Enterprise (ELSE) located in Santa Rosa City, Laguna, handles exports of multi-sourced Toyota Original Equipment Manufacturer (OEM) parts, spare parts, and accessories.

Since its incorporation in 2016, TLI has already established its role in Toyota’s supply chain as a warehousing and logistics services provider, catering to the needs of Toyota affiliates worldwide. Currently, TLI exports to over 30 destinations in five continents.

Despite the challenges brought by the COVID-19 pandemic, TLI’s sales in 2021 grew by 43 percent from 2020, and up by 29 percent from the pre-pandemic level in 2019. TLI attributes its success to a large extent to the government’s policy which allowed unhampered operations of logistics service providers and export-oriented businesses even during the pandemic.

TLI’s 2021 sales was also reflective of global market recovery momentum as evidenced by increased exports to top destinations including Thailand, Pakistan, Brazil, South Africa, and Indonesia.

The Toyota Network continues to provide a critical support to the local automotive industry and global parts supply chain. Export contribution of Toyota Group accounted for 32 percent of the total Philippine exports of automotive parts and components in 2021.

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