Pickup truck tax reimposed as Marcos signs CMEPA with partial vetoes

Pickup truck tax reimposed as Marcos signs CMEPA with partial vetoes

Expect pickup trucks to be more costly after the provision reimposing the excise tax on the vehicle type was approved, alongside other tax reform measures under the proposed Capital Market Efficiency Promotion Act (CMEPA).The CMEPA, a legislation deemed a priority of the administration under the Legislative-Executive Development Advisory Council (LEDAC), was approved by President Ferdinand “Bongbong Marcos Jr. on Thursday, May 29.In a veto messa…

Brace Yourselves For More Expensive Pickup Trucks As Excise Tax Exemption Has Been Removed

Carmakers who’ve been overly reliant on pickup trucks to boost their sales are in for a rude awakening as the Capital Market Efficiency Promotions Act (CMEPA) has been passed into law.Read More »