CMEPA now in effect; pickup truck prices to go up soon

MANILA: Expect the pricing of pickup trucks to increase soon as today marks the start of the effectivity of Republic Act (RA) 12214 — commonly known as Capital Markets Efficiency Promotion Act (CMEPA).

Under the aforementioned law, tax exemption on pick-up trucks not used for livelihood purposes shall be repealed — which means customers who prefer lifestyle-oriented options under the said category need to pay more than the current pricing.

Local distributors and importers have yet to announce any adjustments in retailing their respective models — which means that they still have ample stocks to offer to customers.

Here are some pick-up trucks in the Philippines that will likely be affected by the newly-implemented law:

• Dongfeng Rich7
• Ford Ranger/Ranger Raptor
• Foton Thunder
• GWM Cannon
• Isuzu D-Max
• JAC T9
• Mitsubishi Triton
• Mazda BT-50
• Nissan Navara
• Ram 1500 Rebel
• Toyota Hilux

Also, the public can expect interesting discussions whether the BYD Shark DMO, Changan Hunter K50 REEV, as well as the Foton Tunland V9 and V7 (new energy vehicle pickup trucks) will be affected by the anticipated movements in pricing.

Prior to President Ferdinand Marcos Jr. signing the RA 12214 into law, models under the said category were given tax exemptions, thanks to the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

Also read:

Truck tax exemption at risk as reform bill reaches House

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