Duterte assures car makers of support despite tax plan

ABS-CBN News

Posted at Feb 27 2017 04:22 PM

President Rdorigo Duterte. Simeon Celi, Jr., Malacanang Photo

MANILA - President Rodrigo Duterte said Monday the government supported the automotive industry's revival plan, even as higher taxes on cars were being pushed.

Duterte has asked Congress to raise excise taxes on cars to help offset a reduction in income taxes that he promised during the campaign.

"Let me take this opportunity to assure our stakeholders from the automotive industry that we will take due consideration of your concerns about our package of proposals (for) fiscal reforms," the President said after he unveiled the first locally-assembled Mitsubishi Mirage G4 sub-compact.

"We will ensure that its impact will be fair and supportive of your growth as participants in the CARS programs," he said, referring to the Comprehensive Auto Resurgence Strategy.

Japan agreed to assemble the Mirage in the Philippines under a P1.85-billion trade package that was forged during Duterte's visit to Tokyo last year.