malaysiang
MANILA: The National Economic and Development Authority (NEDA) and other relevant agencies have initiated discussions on the potential expansion of Executive Order (EO) 12 series of 2023 to cover e-motorcycles and hybrid vehicles.
EO 12, which became effective on Feb. 20 last year, temporarily reduced the rates of import duty on certain electric vehicles (EVs) and their parts and components for five years.
In a statement on Tuesday, NEDA said Section 2 of the EO provides for the review of the EO after one year of implementation.
The Tariff Commission shall be requested to conduct a public hearing for this purpose.
“The review shall follow the tariff modification process under Section 1608 of the Customs Modernization and Tariff Act, and shall be presented to the Committee on Tariff and Related Matters and the NEDA Board,” NEDA said.
“The review shall carefully consider all the views and comments of stakeholders, taking into account the current market conditions. The review aims to ensure that we meet the
policy objectives of EO 12 by further encouraging the adoption of EVs and fostering the growth of the domestic EV market.”
NEDA urged interested parties to participate in the public hearing and share their insights.
Under EO 12, the most-favored nation tariff rates on completely built-up units of certain EVs, such as passenger cars, buses, minibuses, vans, trucks, tricycles, scooters, and bicycles, would be temporarily reduced to zero for five years.
The EO, however, does not apply to hybrid-type EVs.
The tariff rates on certain parts and components of EVs would also be reduced to 1 percent from 5 percent for five years, according to EO 12.
Source: Philippines News Agency
