Philippines to Slash Import Tariffs on E-Vehicles, Parts
The Philippines will soon cut tariffs on certain imported electric vehicles and components, the Hong Kong Trade Development Council reported Dec. 20. The change, starting early next year, will remove tariffs on vehicles -- including cars, buses, trucks and bicycles…
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-- for five years. The tariff elimination won’t apply to “hybrid type electric vehicles,” the report said. Tariffs will be lowered to 1% from the existing 5% rate over the same five‑year period for parts and components. The Philippines will evaluate the tariff change after one year to “evaluate its impact on the local industry,” the report said.