Neda eyes zero tariff for certain e-vehicles - BusinessMirror

To help reduce the country’s carbon emissions and dependence on oil, the National Economic and Development Authority is now pushing to make certain electric vehicles tariff-free.

“The EO will temporarily reduce the most-favored nation tariff rates to zero percent for five years and completely built-up or CBU units of certain EVs, except for hybrid-type EVs,” Balisacan said.Hybrid exclusion Likewise, it will also reduce the tariff for certain component parts of EVs from five percent to one percent for five years.

“We will review the performance of this reform after one year to see if there is a need to also include the hybrid,” Balisacan said.The measure together with other tax incentives for green-related initiatives under the Corporate Recovery and Tax Incentives for Enterprises Act are expected to help boost demands for EVs by making them more affordable.

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