New tax for cars signed into law

[Miz_Me]

New Tax for Cars Signed into Law


The new tax reform bill has been signed by President Duterte today. The TRAIN, as it is commonly referred to, has adjusted taxes on several categories including a tax exemption on all personal income tax below Php250,000 (annually).

Likewise, automobiles will have a new or simpler tax structure. For cars, the new tax scheme is as follows:

Net Manufacturer's / Importer's Price

Up to P600,000 == 4%
P600,000 to 1,000,000 == 10%
P1,000,000 to 4,000,000 == 20%
Above P4,000,000 == 50%

Take note that these are based on Net Manufacturer's Price or Importers Price.

Here's a comparison table between the old and the new tax scheme.

Let's do some examples.

Importer's Price: Php600,000

Selling Price (Old Tax): Php612,000
Selling Price (New Tax): Php624,000

Importer's Price: Php800,000
Selling Price (Old Tax): Php852,000
Selling Price (New Tax): Php880,000

Importer's Price: Php1,00,000
Selling Price (Old Tax): Php1,092,000
Selling Price (New Tax): Php1,100,000

Importer's Price: Php1,500,000
Selling Price (Old Tax): Php1,772,000
Selling Price (New Tax): Php1,800,000

Importer's Price: Php2,500,000
Selling Price (Old Tax): Php3,252,000
Selling Price (New Tax): Php3,000,000

Importer's Price: Php3,000,000
Selling Price (Old Tax): Php4,052,000
Selling Price (New Tax): Php3,600,000

Importer's Price: Php4,000,000
Selling Price (Old Tax): Php5,652,000
Selling Price (New Tax): Php4,800,000

Importer's Price: Php5,000,000
Selling Price (Old Tax): Php7,252,000
Selling Price (New Tax): Php6,000,000

 

[x_SNUFF_x]

Ts my wheels ka na ba, ilan?

 

[Miz_Me]

Ts my wheels ka na ba, ilan?

Wala po di ko kayang bumili dukha lang ako eh, share ko lang dun sa mga meron wala naman sigurong issue dun. Just a heads up to them.

 

[Jmrie_]

agree ang tatay ko diyan hehe salamat talaga kay tatay digong natin kaso downside neto sa mga mayayaman

 

[cloudztrife]

heehe maganda yan sa iba panget sa iba hehe agree ako jan

 

[Sollomun]

In general, the Philippines is a developing country. When I built a house here, I ρáíd handypersons 250 pesos a day and the master 350. The tax in the Philippines is flexible and can vary from 5 to 32%. My friend, Jane's fruit shop owner, says that she ρáíd 4800 pesos this year for a license to trade. It's all her taxes. I myself receive income from working on the Internet and am not tied to any place. In addition, I use You do not have permission to view the full content of this post. Log in or register now., and I always have all receipts and documents with me. Therefore, I can't have any problems with taxes.

 

[LonelyGuy]

Taasan pa sana nila ang tax para bawas traffic