{"id":18800,"date":"2024-05-17T03:03:25","date_gmt":"2024-05-17T03:03:25","guid":{"rendered":"https:\/\/energybuzz.ph\/staging\/6915\/zero-tariff-policy-now-extended-to-two-wheeled-evs-hybrid-vehicles\/"},"modified":"2024-05-17T03:03:25","modified_gmt":"2024-05-17T03:03:25","slug":"zero-tariff-policy-now-extended-to-two-wheeled-evs-hybrid-vehicles","status":"publish","type":"post","link":"https:\/\/energybuzz.ph\/staging\/6915\/zero-tariff-policy-now-extended-to-two-wheeled-evs-hybrid-vehicles\/","title":{"rendered":"Zero tariff policy now extended to two-wheeled EVs, hybrid vehicles"},"content":{"rendered":"
\n

By Beatriz Marie D. Cruz, <\/b>Reporter <\/i><\/span><\/p>\n

THE NATIONAL Economic and Development <\/span>Authority (NEDA) Board on Wednesday <\/span>granted tax breaks for electric motorcycles (e-motorcycles), electric bicycles (e-bicycles) and hybrid electric vehicles (EVs), as the government seeks to further promote green transport and cut carbon emissions.<\/p>\n

The NEDA Board, chaired by President Ferdinand R. Marcos, Jr., on Wednesday approved to expand the coverage of Executive Order (EO) No. 12 which temporarily reduced tariffs on electric vehicles to zero until 2028.<\/span><\/p>\n

The zero tariff policy will now cover e-motorcycles, e-bicycles, nickel metal hydride accumulator batteries, e-tricycles and quadricycles, hybrid EVs and plug-in hybrid EV (PHEV) jeepneys or buses.<\/p>\n

The NEDA Board also agreed to keep the zero tariff policy on 34 lines of battery EVs currently covered by EO 12.<\/p>\n

In February 2023, Mr. Marcos signed EO 12, which temporarily removed the tarif<\/span>fs for EVs and their parts and components for f<\/span>ive years. However, the EO did not include two-wheeled EVs and hybrid vehicles.<\/p>\n

Prior to the order, tarif<\/span>f rates for some EVs ranged from 5-30%.<\/p>\n

\u201cEO 12 is designed to stimulate the EV market in the country, support the transition to emerging technologies, reduce our transport system\u2019s reliance on fossil fuels, and reduce greenhouse gas emissions attributed to road transport,\u201d NEDA Secretary Arsenio M. Balisacan said in a statement on Thursday.<\/span><\/p>\n

The Philippine government is now promoting more environment-friendly means of transport as it committed to reduce greenhouse gas emissions by 75% by 2030 under the Paris Agreement.<\/p>\n

\u201cBy encouraging consumers to adopt EVs, we are promoting a cleaner, more resilient, and more environmentally friendly transportation alternative,\u201d Mr. Balisacan, who also serves as the vice chairperson of the NEDA Board, said.<\/span><\/p>\n

The recommendation to expand EO 12\u2019s coverage was made by the Committee on Tariff and Related Matters (CTRM) after a series of industry consultations.<\/p>\n

The Department of Trade and Industry said the expansion of the EO aligns with the country\u2019s commitment to green transition and promotes the adoption of eco-friendly transportation.<\/p>\n

\u201cBy making EVs and hybrid EVs more accessible and af<\/span>fordable, the government not only fosters sustainable mobility but also contributes to cleaner air and a healthier environment,\u201d Trade Secretary Alfredo E. Pascual said in a statement.<\/p>\n

European Chamber of Commerce of the Philippines (ECCP) President Paulo Duarte welcomed the expansion of EO 12, saying that this would aid the industry in achieving the targets set under the Comprehensive Roadmap for the Electric Vehicle Industry.<\/span><\/p>\n

\u201cThe extended elimination of EV tarif<\/span>fs will also prompt a positive push for the development of EV infrastructure. We also laud the incorporation of hybrid EVs and PHEVs in the zero tarif<\/span>fs program as this will greatly enhance their affordability and serve as a driving force for the eventual market penetration of (battery EVs), thereby encouraging their widespread adoption and accelerating the transition towards cleaner mobility solutions,\u201d Mr. Duarte said in a Viber message.<\/p>\n

Philippine Chamber of Commerce and Industry Chairman George T. Barcelon said EO 12 would help the Philippines develop its own EV manufacturing hub.<\/span><\/p>\n

\u201cThe upside is that this might spur the manufacturing or assembling of such EV vehicles. Other countries have already embarked on the manufacturing side, and we can also catch up,\u201d he said via telephone.<\/p>\n

Rene S. Santiago, founding member of the Transportation Science Society of the Philippines, said improving the road traff<\/span>ic f<\/span>low would be a better way to cut greenhouse gas emissions.<\/p>\n

\u201cLower taxes can induce more buyers, but the percentage of Filipino households who can af<\/span>ford those EVs is small,\u201d Mr. Santiago said via Viber.<\/p>\n

Eleanor L. Roque, tax principal of P&A Grant Thornton, noted that while the order would lessen revenue collection, the government\u2019s top priority should be sustainability and environmental protection.<\/p>\n

\u201cWe are already at the 11th <\/sup>hour and government cannot just rely on market forces or societal changes. Otherwise, we are setting up for failure. Government must step up and drive the change,\u201d she said in a Viber message.<\/p>\n

PROJECT APPROVALS
\n<\/b>Meanwhile, the NEDA Board approved a P2.75-billion Facility for Accelerating Studies for Infrastructure (FAST-Infra) project.<\/p>\n

\u201cFAST-Infra will initially focus on the transportation sector by providing fund support in formulating high-quality transportation master plans and develop a robust pipeline of big-ticket transportation projects that would strengthen both national and regional connectivity,\u201d it said.<\/p>\n

The board also greenlit the Infrastructure for Safer and Resilient Schools (ISRS) project, which involves the repair, rehabilitation and reconstruction of school facilities damaged by natural disasters.<\/p>\n

The project will be implemented starting this year until 2029. It will cover 13,101 classrooms across 1,282 schools nationwide.<\/p>\n

The NEDA Board also extended the implementation period of the P8.41-billion Light Rail Transit (LRT) Line 2 East Extension project to give way for the \u201cfull disbursement to project contractors and consultants and ensure the quality of the project until the end of its defects liability period in December 2024.\u201d<\/p>\n

The project, which added railway stations in Marikina City and Antipolo, east of Metro Manila, was completed in 2021.<\/p>\n

The NEDA Board also approved the extension of the Department of Agrarian Reform\u2019s land titling project to Dec. 31, 2027 from Jan. 1, 2024. The loan validity was also extended to Dec. 31, 2027 from Jan. 1, 2025.<\/p>\n

The P24.62-billion Support to Parcelization of Lands for Individual Titling project aims to improve land tenure security and stabilize the property rights of agrarian reform benef<\/span>iciaries.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

THE NATIONAL Economic and Development Authority (NEDA) Board on Wednesday granted tax breaks for electric motorcycles (e-motorcycles), electric bicycles (e-bicycles) and hybrid electric vehicles (EVs), as the government seeks to further promote green transport and cut carbon emissions.<\/div>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[1],"tags":[14644,17937,9733,15640,3487,5406,12518,17936,744,4804],"class_list":["post-18800","post","type-post","status-publish","format-standard","hentry","category-uncategorized","tag-bworldonline","tag-evs","tag-extended","tag-hybrid","tag-now","tag-policy","tag-tariff","tag-two-wheeled","tag-vehicles","tag-zero"],"yoast_head":"\nZero tariff policy now extended to two-wheeled EVs, hybrid vehicles - Energy Buzz<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/energybuzz.ph\/zero-tariff-policy-now-extended-to-two-wheeled-evs-hybrid-vehicles\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zero tariff policy now extended to two-wheeled EVs, hybrid vehicles - 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