Philippines to extend EV import tax exemption until 2028

The Philippines has extended its duty-free policy for electric vehicles until 2028. The Southeast Asian island state had abolished import duties for electric vehicles at the beginning of 2023, which will now be extended until 2028.

In addition to expanding the tax regulation’s runtime, the scope of the duty exemption will also be extended to hybrid vehicles as well as electric motorcycles and e-bikes. The measure will now end with the end of the current president’s mandate in 2028.

Initially, the regulation was introduced in 2022 and implemented in early 2023 by President Ferdinand Marcos Jr, through an executive order. At the time, it was also planned to include passenger cars, buses, vans, trucks, motorcycles, and bicycles, and their parts for five years, which has now been expanded to include their hybrid counterparts.

“By encouraging consumers to adopt EVs, we are promoting a cleaner, more resilient, and more environmentally friendly transportation alternative,” said Economic Planning Secretary Arsenio Balisacan.

reuters.com