THE Department of Trade and Industry (DTI) said e-motorcycles may be given a tax break next year after the review of Executive Order No. 12 that provided incentives to electric vehicles (EVs).
EO No. 12, issued by President Ferdinand Marcos Jr. early this year, suspended for five years tariffs on completely built up units of certain EVs such as passenger cars, buses, minibuses, vans, trucks, motorcycles, tricycles, scooters and bicycles. It is up for review starting February 21, 2024.The DTI said it has submitted to the Office of the President a tweaked version of the executive order to include e-motorcycles in the tax incentives.
Pascual's support to the initiative came a couple of weeks after socioeconomic planning Secretary Arsenio Balisacan said the National Economic and Development Authority will focus on the feasibility of including two and three-wheeled EVs in the import tariff exemption.Several groups and stakeholders of the EV industry have repeatedly called for the inclusion of e-motorcycles in the list of those granted tax breaks.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
E-vehicle industry hopeful of import tariff incentives next yearThe electric vehicle industry in the country is hopeful of more tax breaks after the Department of Trade and Industry (DTI) has endorsed a version of an executive order, which includes electric motorcycles in the import tariff incentives, in a move to expand and promote the electrification of the transport system in the country.
Read more »
US Transportation Department discloses data breachThe United States (US) Transportation Department said it had been hit by a data breach involving its administrative systems. | ManilaBulletin
Read more »
Marcos signs deal extending Malampaya Service Contract 38 by 15 yearsThe production contract, which expires in February 22, 2024, is now extended to February 22, 2039.
Read more »
DOE: llijan power plant to reduce yellow alerts for the rest of the yearThe Department of Energy (DOE) on Saturday said the Ilijan power plant, which will start operating on May 26, will lessen yellow alerts for the rest of the year.
Read more »
Red worms in Leyte’s Ormoc Bay? DENR Eastern Visayas moves to checkMANILA, Philippines — The Department of Environment and Natural Resources (DENR) Eastern Visayas on Saturday said it is verifying the reported presence of red worms in Leyte&039;s Ormoc Bay, as
Read more »