THE expansion of tariff exemptions to more types of electric vehicles (EVs) and hybrids will help the Philippines meet its sustainability goals and promote investment, the Department of Finance (DoF) said.
“This strategic move puts the Philippines at the forefront of green technology, attracting more sustainable investment,” Finance Secretary Ralph G. Recto said in a statement.
“It will spur the creation of high-quality jobs, foster innovation, and offer Filipinos more eco-friendly vehicle choices. Ultimately, it will bring us closer to reaching our goal of reducing greenhouse gas emissions by 75% in 2030,” he added.
The National Economic and Development Authority Board last week approved the expansion of the coverage of Executive Order No. 12, which had temporarily reduced tariffs on EVs to zero until 2028.
It now grants zero tariffs to e-motorcycles, e-bicycles, nickel metal hydride accumulator batteries, e-tricycles and quadricycles, hybrid EVs and plug-in hybrid EV jeepneys or buses.
The DoF said that the expansion of the tariff exemption will “further enhance the ease of doing business in the Philippines, advance the country’s climate ambitions by promoting more sustainable investments, and generate more jobs in the area of green technology for Filipinos.”
“With the expanded measure, EVs will be more accessible and affordable to consumers, thereby accelerating the country’s transition to environment-friendly transportation solutions,” it added. — Luisa Maria Jacinta C. Jocson
