Toyota Motor Philippines Logistics, Inc. (TLI), a wholly-owned subsidiary of Toyota Motor Philippines Corporation (TMP), reported that its exports already exceeded pre-pandemic level as its operations remained unhampered even amid the pandemic
Data showed that despite the pandemic, TLI sales in 2021 grew by 43 percent to $175.164 million from $122.307 million in 2020, and up by 29 percent from the $135.688 million pre-pandemic level in 2019.
“TLI attributes its success to a large extent to the government’s policy which allowed unhampered operations of logistics service providers and export-oriented businesses even during the pandemic,” TLI said.
TLI also attributed its 2021 sales as a reflection of the global market recovery momentum as evidenced by increased exports to top destinations including Thailand, Pakistan, Brazil, South Africa and Indonesia.
The Toyota Network continues to provide a critical support to the local automotive industry and global parts supply chain. Export contribution of Toyota Group accounted for 32 of the total Philippine exports of automotive parts and components in 2021.
TLI, a Philippine Economic Zone Authority or PEZA-registered Ecozone Logistics Service Enterprise (ELSE) located in Santa Rosa City, Laguna, handles exports of multi-sourced Toyota Original Equipment Manufacturer (OEM) parts, spare parts and accessories.
Since its incorporation in 2016, TLI has already established its role in Toyota’s supply chain as a warehousing and logistics services provider, catering to the needs of Toyota affiliates worldwide. Currently, TLI exports to over 30 destinations in five continents.
Meanwhile, TLI reported that it was recently recognized as the “Top 3 Taxpayer under Non-Individual Taxpayer Category” by the Bureau of Internal Revenue District Office (RDO) No. 57.
TLI remitted to the government a total of $1.25 million in the form of withholding taxes for taxable year 2021. The amount is one of the highest collected by the RDO from the whole of Cabuyao, Santa Rosa, Biñan and San Pedro in Laguna.