Philippine government considers increasing import tariffs on auto parts
According to the Philippine "Business Mirror" reported on November 30th, the Philippine government is currently assessing the most-favored-nation tariff rate (MFN) to be implemented by the Philippines in the next five years, and it is likely to increase the import tariffs on some imported auto parts and ethanol. .
Marali Lite, chairman of the Philippine Tariff Commission, said that 95% of the MFN tax rates in the Philippines will maintain the current level of MFN tax, only 4 products under the tariff line number, including auto parts, especially batteries and reversing The tax rate for sensors, ethanol, etc. will be raised.
Currently, the import tariff on auto parts and ethanol in the Philippines is only 1%. The Philippine ethanol production association proposed to increase the import duty on ethanol to 20%.
Marali Lite, chairman of the Philippine Tariff Commission, said that 95% of the MFN tax rates in the Philippines will maintain the current level of MFN tax, only 4 products under the tariff line number, including auto parts, especially batteries and reversing The tax rate for sensors, ethanol, etc. will be raised.
Currently, the import tariff on auto parts and ethanol in the Philippines is only 1%. The Philippine ethanol production association proposed to increase the import duty on ethanol to 20%.
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