The Chamber of Automotive Manufacturers of the Philippines Inc. said Tuesday the lifting of exemption of pickup trucks and similar vehicles from excise tax will result in higher unit cost of those vehicles in the country.
CAMPI president Rommel Gutierrez said the proposed tax measure by the House Ways and Means Committee would add to the concerns faced by the local automotive industry. “We are definitely concerned about additions in taxes. So this will definitely impact the prices and we are still recovering, and we have not yet recovered fully to pre-pandemic levels,” Gutierrez said at the launch of the 8th Philippine International Motor Show. The PIMS will be held on Sept. 16 to 18, 2022 after a four-year hiatus.
Gutierrez said subjecting pickup trucks to excise tax would dampen demand for the vehicle which is a vehicle of choice of many corporations and enterprises. Industry data showed that sales of light commercial vehicles went up 3.4 percent to 2,813 units in the first half from 2,721 units in the same period in 2021.