Pickup excise tax makes a comeback with CMEPA signing Higher pickup prices loom on the horizon after President Ferdinand Marcos Jr signed Senate Bill No 2865, known as the Capital Market Efficiency Promotion Act (CMEPA), on May 29, 2025 The legislation was approved with partial vetoes, but the removal of the excise tax exemption on pickup trucks remains in the signed version
Pickup truck tax reimposed as Marcos signs CMEPA with partial vetoes Expect pickup trucks to be more costly after the provision reimposing the excise tax on the vehicle type was approved, alongside other tax reform measures under the proposed Capital Market Efficiency Promotion Act (CMEPA) The CMEPA, a legislation deemed a priority of the administration under the
Brace Yourselves For More Expensive Pickup Trucks As Excise Tax . . . Carmakers have warned that CMEPA will indeed make pickup trucks more expensive as they’d be forced to pass on the additional tax to would-be consumers in the form of a price adjustment The hikes could be as much as P 200,000 once the law takes effect and it could happen as early as June
Pickup truck excise tax will return after PBBM signs CMEPA This comes after President Ferdinand “Bong Bong” Marcos Jr recently signed the Capital Market Efficiency Promotion Act (CMEPA) [AKA Republic Act No 12214], wherein the excise tax on pickup
CMEPA revenue projection lower with selective veto Still, by 2030, the government stands to gain P31 329 billion from tax on passive income, P46 569 billion in excise tax on pickup trucks and P18 725 billion from special laws proposed for repeal
Excise taxes could soon be coming to pickup trucks Pickup trucks could soon become even more expensive as the House committee on ways and means has just approved of a measure that will impose excise taxes on pickup trucks As a quick refresher, pickup trucks are exempt from excise duties thanks to the current version of the TRAIN law This was done because these vehicles were seen as “workhorses for smaller business owners and professionals
DOF limits tax-exempt status for pickup trucks - Philstar. com A total of 73,957 units of pickup trucks were sold in 2023, more than double the 34,686 units before the tax exemption was imposed in 2017 “When the exemption was given, there was an increase
DOF worried over House bill plan to keep pick-up trucks excise tax . . . Excise taxes on pick-ups would be adding a total of P30 06 billion to the government's tax take—P6 4 billion in 2025, P7 09 billion in 2026, P7 86 billion in 2027, and P8 71 billion in 2028 Sources told Manila Bulletin that legislators in the Lower House were no longer keen to slap tax on pick-ups trucks
Boosting stock trade: A closer look at CMEPA - Lexology If approved, the interest income on long-term deposits and investments, like other types of deposits, will be subject to a final tax of 20% The CMEPA will also introduce more precise definitions
Congress gives nod to remove excise tax exemptions on pickup trucks Once the excise tax on pickup trucks is imposed, DOF estimates that additional tax collections will hit P52 6 billion from 2022 to 2026 This week, the Department of Finance (DOF) pushed for additional measures to what was once known as the Passive Income Financial Intermediary Taxation Act (Pifita), including the removal of the excise tax