Companies / Philippines
Philippines Drops ASEAN Car Import Tax
February 2008 | Industry NewsThe Philippines has taken further steps in its ASEAN Free Trade Agreement (AFTA) obligations, with an executive order to remove the import duty from completely built vehicles entering from other ASEAN markets. Under the terms of Phases I and II of the ASEAN Priority Integration Program, all tariffs must be reduced to zero by 2010, when the ASEAN bloc becomes a single free-trade market. The import of used CBUs, however, will not be included under the tariff elimination as used vehicles are prohibited under the Philippines government's Motor Industry Development Plan (MIDP).
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