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Manila Bulletin devider Business devider Zero tariff policy expanded to include e-bikes

Zero tariff policy expanded to include e-bikes

Published May 16, 2024 06:01 am

Electric motorcycles and bicycles will now enjoy lower tariff rates following its inclusion to the list of vehicles under the Executive Order (EO) No. 12

The National Economic and Development Authority Board approved the recommendations of the Committee on Tariff and Related Matters on the review of EO 12 that temporarily modified the rates of duty on electric vehicles, their parts, and components as per the Customs Modernization and Tariff Act.

It has also extended and maintained the most favored nation rate at zero until 2028 on 34 tariff lines of battery electric vehicles currently covered under EO 12.

The expansion in the coverage of EO 12 also includes other types of electric vehicles, particularly battery e-tricycles and quadricycles; battery, hybrid electric and plug-in hybrid electric jeepneys and buses; and hybrid and plug-in hybrid electric cars and trucks.

In addition, knocked-down electric vehicles of all types are included in the articles whose tariffs should be reduced to zero until 2028.

“Executive Order No. 12 is designed to stimulate the electric vehicle (EV) market in the country, support the transition to emerging technologies, reduce our transport system’s reliance on fossil fuels, and reduce greenhouse gas emissions attributed to road transport,” said Balisacan, who also serves as the vice chairperson of the NEDA Board.  

“By encouraging consumers to adopt EVs, we are promoting a cleaner, more resilient, and more environmentally friendly transportation alternative,” he added.

President Ferdinand Marcos Jr., who also serves as the chairperson of the NEDA board, has instructed the tariff committee to conduct an annual review of the rates to ensure timeliness, applicability, and impact on the sectors concerned due to the modification in duties of electric vehicles.  

Earlier, Balisacan said that the government is doing a comprehensive review of the entire tariff structure, including agricultural commodities, for 2025 to 2028.

“The overall intention of that review is to further structure the tariff regime so that we can have a more efficient competitive economy, so that we don't have cases where some industries have low tariffs for their outputs, for the outputs that they produce, but they face high tariffs for the inputs that they use for their production, effectively making them, losing competitiveness,” he stated.
 

Related Tags

National Economic and Development Authority (NEDA) NEDA Board TARIFF MODIFICATION E-VEHICLES EO 12
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