An executive order imposing a surcharge on used-car imports will provide some protection for local assemblers, the Philippines Chamber of Automotive Manufacturers says. Philippines President Gloria Arroyo signed the executive order imposing the 500,000 peso ($9,225) surcharge on used-car imports. It will be applied on top of existing taxes, including the 30% most-favored-nation rate, the 2% to 60% excise tax tied to vehicle sticker prices and 10% value-added tax imposed on the landed cost ...

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