According to the notice recently issued by the Office of the President of the Philippines, the country will reduce the import taxes of electric vehicles and their parts, aiming to promote the development of the domestic electric vehicle market.
Sunday, January 22, 2023, 18:36
The notice pointed out that Philippine President Ferdinand Romualdez Marcos has signed an order. This order is in line with the government’s suggestions regarding this issue.
In November 2022, the National Economic and Development Authority (NEDA) of the Philippines had already recommended temporarily reducing the import tax of some fully-assembled electric vehicles (except hybrid vehicles) to zero in the next five years. The import tax of electric vehicle parts has also been reduced from 5% to 1%.
The Office of the President of the Philippines said that this move will assist in the shift to new technologies and encourage consumers to view electric vehicles as a greener and cleaner mode of transportation.
According to official statistical data, the transportation sector is one of the sources of gas emissions that cause severe pollution in the Philippines, accounting for 34% of the total gas emissions. (End)