EDITOR’S NOTE (4): We simulate the prices of 42 vehicles under the final bicameral version of the TRAIN bill. Read it here. (12/14/2017).
EDITOR’S NOTE (3): The House of Representatives and Senate have agreed on a compromised version of the new vehicle excise tax which excludes pick-up trucks and EVs. See the story here (12/12/2017).
EDITOR’S NOTE (2): The senate just approved a new version of TRAIN that is friendlier to luxury vehicles. See the full story here. (11/28/2017).
EDITOR’S NOTE (1): A version of the bill has just passed the House Ways and Means Committee. You can check how it will affect vehicle prices here (5/8/2017).
Late last year, the Department of Finance looked at revising the excise tax on new vehicles initially as a means to curb Manila’s worsening problem. Then, they clarified it’s to increase tax collection. With the government bent on reducing personal income tax, they had to find alternative ways to fund government operations. This is especially true as the current administration is looking at spending big on infrastructure development, something that quite frankly, the previous administration didn’t do.
