The Department of Trade and Industry (DTI) is looking to impose a zero-tariff regime for imports of electric vehicles (EVs) versus the original 30% rate.
Trade Sec. Ramon Lopez said in a BusinessWorld report that the DTI is proposing to adjust tariff rates for EVs to help accelerate their entry in the local market.
The remark comes amid the continuous increase of local pump prices, which went up as much as Php5.85 per liter this week amid the ongoing global conflicts like the one between Russia and Ukraine. Retail prices are seen to hit the Php100 per liter mark should these continue.
Lopez said that the proposal can provide options for consumers and encourage them to try EVs instead of internal combustion vehicles.
Furthermore, the zero-tariff would encourage dealers to import EVs in the country. Should the tariff change be implemented, the DTI is seeing more EVs coming in by the second half of the year.
Lopez added that charging stations will be installed to further encourage the use of EVs and that there are project proposals submitted to the DTI to help the EV industry in the country to grow.
The Senate approved Senate Bill 1382 or the proposed EV and Charging Stations Act in June 2021, while the House of Representatives passed its own version in September.
