Wednesday 25 April
Powered by Ajaxy
Dec 14, 2017 @ 20:57

GT Capital shares up on tax reform optimism

 

Shares of taipan George S.K. Ty’s listed investment arm GT Capital Holdings rose nearly five percent Thursday as investors cheered the ratification of the first phase of the tax reform measure.

GT Capital, which controls the country’s leading automotive maker Toyota, closed P60 higher at P1,270 each share.

The Senate and House of Representatives approved the tax reform bill which is expected to raise taxes on cars beginning January next year.

Analysts said the increase in car tariffs were lower than market expectations.

Congress approved a four-tier automotive excise tax scheme. Vehicles priced up to P600,000 will slapped with a four percent excise tax per unit, 10% for over P600,000 to P1 million, 20% for over P1 million up to P4 million, and 50% for over P4 million.

All pick-up trucks and electric vehicles would be exempted from additional taxes.

Tags: , , , , , , , , , ,

Related Stories
Global carmakers touted their latest electric and SUV models in Beijing on Wednesday, as China promises a more level playing field
Global carmakers will show off their latest models at the Beijing Auto Show this week,
MANILA -- Motor vehicle sales declined by 8.5 percent in the first quarter of 2018
Japanese automaker Toyota said Thursday it was suspending tests of its self-driving cars so staff


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.