Toyota Motor Philippines Corp. (TMP) said Thursday it contributed P44 billion in duties and taxes to the national coffers in 2023, or 27.2 percent higher P34.59 billion it shared in 2022.
The Bureau of Customs (BOC) cited TMP as the country’s second-highest importer by the sheer volume of duties it pays the government.
The BOC awarded TMP the authorized economic operator (AEO) level 2 accreditation during the 122nd BOC founding anniversary.
The AEO program, established by the World Customs Organization (WCO), aims to facilitate legitimate trade by fostering cooperation between customs authorities and businesses.
Earning AEO Level 2 signifies that TMP has undergone a comprehensive assessment and adheres to the WCO SAFE Framework standards for secure and efficient international trade.
The accreditation streamlines TMP’s customs procedures through various benefits, including simplified customs processes and priority lanes, advance cargo clearance, periodic lodgment, one-time exemption certificates and expedited export clearance
TMP’s received its AEO Level 1 certification in 2022, earning benefits such as self-assessment of duties and taxes, exemption from BOC accreditation renewal and access to a dedicated help desk.
As the country’s leading automotive manufacturer, seller and distributor, TMP uses several major BOC ports, including the Port of Batangas (POB), Manila International Container Port and Ninoy Aquino International Airport.
The POB, located near TMP’s Batangas Vehicle Center, serves as a crucial import hub for Toyota and Lexus vehicles, multi-sourced production parts and service parts from the Asia Pacific region.
It also plays a vital role in Toyota’s supply chain by distributing automotive products to dealerships in Visayas and Mindanao and exporting OEM parts and components made by TMP’s suppliers.
