THE Bureau of Internal Revenue will now determine whether automobiles will be fully exempted or subject to excise tax reductions.
“The BIR shall make a determination whether the automobile is exempt from excise tax or subject to 50 percent excise tax, respectively, on the basis of the Department of Energy’s ‘List of Recognized Electronic Vehicles,’ published on its website, without prejudice to the BIR’s authority to conduct any post-verification assessment of the automobiles,” read the first RR issued by the BIR this year.
Previously, the Department of Environment and Natural Resources-Environment Management Bureau was responsible for determining if a vehicle was hybrid or purely electric. The Train law provides tax incentives for electric vehicles, wherein hybrid vehicles are subject to 50 percent of applicable excise tax rates on automobiles, while purely electric vehicles are exempt from excise tax.
BIR Excise Tax Electric Vehicles Hybrid Vehicles TRAIN Law
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