Expect PH pickup trucks to be more expensive with CMEPA

MANILA: If you are planning to buy a pickup truck soon, then you better do it fast as President Ferdinand Marcos Jr. has signed into law the Capital Market Efficiency Promotion Act (CMEPA).

Under the newly-ratified Republic Act (RA) 12214, the tax exemption on pick-up trucks not used for livelihood purposes shall be repealed. Such initiative is expected to jack up the pricing of models under the said category.

As of the time of publishing, local automotive distributors have yet to announce any adjustments in the pricing of their pickup truck products.

To recall, models under the said category were given tax exemptions after the Tax Reform for Acceleration and Inclusion (TRAIN) Law was approved.

Here are some of the pick-up trucks in the country:

• Toyota Hilux
• Mitsubishi Triton
• Nissan Navara
• Isuzu D-Max
• Ford Ranger and Ranger Raptor
• GWM Cannon
• Foton Tunland V9 and V7
• BYD Shark 6 DM-O
• Changan Hunter

Zigwheels Philippines would also share any possible developments on this as  we would also monitor on what the government will do on electrified pickup trucks (like the last three models stated in the list) that are already available in the country.

So, keep your eyes peeled on this website to know updates about CMEPA.

Also read:

Truck tax exemption at risk as reform bill reaches House

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