ABOUT P8.58 billion is expected to be collected from the excise tax on pickups by 2028 under the newly signed Capital Markets Efficiency Promotion Act, a Department of Budget and Management (DBM) report said.
In an Oct. 10 document, “Technical Notes on the Proposed National Budget” for 2026, the DBM said the excise tax on pickups will generate P8.58 billion by 2028 for the Bureau of Customs (BoC).
Customs is projected to collect P2.80 billion this year, P6.46 billion in 2026, and P7.44 billion in 2027.
Pickup trucks have been exempted from excise tax under the Tax Reform for Acceleration and Inclusion Law, to support small business owners and professionals.
Assistant Commissioner Vincent Philip C. Maronilla previously said the pickup truck tax and potential rice tariff hike could offset the foregone revenue due to lower tariff on rice, electric vehicles (EVs), pork, corn, and mechanically deboned poultry meat.
In a separate statement on Sunday, the BoC said public auctions of seized and abandoned goods from various ports generated P106.93 million in the July-to-September period.
The BoC said the auctioned items include various consumer goods, vehicles, fuel products, industrial materials, furniture, and assorted merchandise from forfeited shipments.
The 17 auctions were handled by the BoC’s Auction and Cargo Disposal Division of the Port of Manila, Manila International Container Port, and Ninoy Aquino International Airport.
“Through the consistent conduct of lawful and transparent auctions, the Bureau fulfills its dual mandate of protecting government revenues and facilitating legitimate trade,” Commissioner Ariel F. Nepomuceno said.
The proceeds will contribute to the BoC’s run to achieve its P958.7-billion target for 2025, which will finance priority programs and essential public services.
Data from the Bureau of the Treasury showed that Customs collections edged up by 1.1% to P621.4 billion as of end-August, supported by efforts against smuggling and illicit trade.
The auction was in compliance with the mandate of Customs to dispose of seized and abandoned goods through public auction, negotiated sale, or donation, ensuring transparency and compliance with established procedures. — Aubrey Rose A. Inosante