September 25, 2017, 6:07 pm
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1 Philippine Peso = 0.07264 UAE Dirham
1 Philippine Peso = 2.21717 Albanian Lek
1 Philippine Peso = 0.03501 Neth Antilles Guilder
1 Philippine Peso = 0.34187 Argentine Peso
1 Philippine Peso = 0.02482 Australian Dollar
1 Philippine Peso = 0.03536 Aruba Florin
1 Philippine Peso = 0.03956 Barbados Dollar
1 Philippine Peso = 1.5979 Bangladesh Taka
1 Philippine Peso = 0.03249 Bulgarian Lev
1 Philippine Peso = 0.00745 Bahraini Dinar
1 Philippine Peso = 34.31665 Burundi Franc
1 Philippine Peso = 0.01978 Bermuda Dollar
1 Philippine Peso = 0.02662 Brunei Dollar
1 Philippine Peso = 0.13627 Bolivian Boliviano
1 Philippine Peso = 0.0618 Brazilian Real
1 Philippine Peso = 0.01978 Bahamian Dollar
1 Philippine Peso = 1.27967 Bhutan Ngultrum
1 Philippine Peso = 0.20131 Botswana Pula
1 Philippine Peso = 395.96518 Belarus Ruble
1 Philippine Peso = 0.03951 Belize Dollar
1 Philippine Peso = 0.02438 Canadian Dollar
1 Philippine Peso = 0.01919 Swiss Franc
1 Philippine Peso = 12.36155 Chilean Peso
1 Philippine Peso = 0.13059 Chinese Yuan
1 Philippine Peso = 57.37935 Colombian Peso
1 Philippine Peso = 11.30439 Costa Rica Colon
1 Philippine Peso = 0.01978 Cuban Peso
1 Philippine Peso = 1.82753 Cape Verde Escudo
1 Philippine Peso = 0.43125 Czech Koruna
1 Philippine Peso = 3.51325 Djibouti Franc
1 Philippine Peso = 0.1233 Danish Krone
1 Philippine Peso = 0.94106 Dominican Peso
1 Philippine Peso = 2.21553 Algerian Dinar
1 Philippine Peso = 0.25924 Estonian Kroon
1 Philippine Peso = 0.3485 Egyptian Pound
1 Philippine Peso = 0.46183 Ethiopian Birr
1 Philippine Peso = 0.01657 Euro
1 Philippine Peso = 0.03986 Fiji Dollar
1 Philippine Peso = 0.01461 Falkland Islands Pound
1 Philippine Peso = 0.0146 British Pound
1 Philippine Peso = 0.08739 Ghanaian Cedi
1 Philippine Peso = 0.88588 Gambian Dalasi
1 Philippine Peso = 176.45964 Guinea Franc
1 Philippine Peso = 0.14445 Guatemala Quetzal
1 Philippine Peso = 4.08406 Guyana Dollar
1 Philippine Peso = 0.15453 Hong Kong Dollar
1 Philippine Peso = 0.46127 Honduras Lempira
1 Philippine Peso = 0.12375 Croatian Kuna
1 Philippine Peso = 1.23398 Haiti Gourde
1 Philippine Peso = 5.13074 Hungarian Forint
1 Philippine Peso = 263.05379 Indonesian Rupiah
1 Philippine Peso = 0.06919 Israeli Shekel
1 Philippine Peso = 1.28145 Indian Rupee
1 Philippine Peso = 23.08149 Iraqi Dinar
1 Philippine Peso = 663.96359 Iran Rial
1 Philippine Peso = 2.1252 Iceland Krona
1 Philippine Peso = 2.5623 Jamaican Dollar
1 Philippine Peso = 0.01399 Jordanian Dinar
1 Philippine Peso = 2.21833 Japanese Yen
1 Philippine Peso = 2.03738 Kenyan Shilling
1 Philippine Peso = 1.35362 Kyrgyzstan Som
1 Philippine Peso = 80.07516 Cambodia Riel
1 Philippine Peso = 8.12164 Comoros Franc
1 Philippine Peso = 17.80063 North Korean Won
1 Philippine Peso = 22.34177 Korean Won
1 Philippine Peso = 0.00596 Kuwaiti Dinar
1 Philippine Peso = 0.01622 Cayman Islands Dollar
1 Philippine Peso = 6.74387 Kazakhstan Tenge
1 Philippine Peso = 163.94383 Lao Kip
1 Philippine Peso = 29.77848 Lebanese Pound
1 Philippine Peso = 3.02017 Sri Lanka Rupee
1 Philippine Peso = 2.31408 Liberian Dollar
1 Philippine Peso = 0.26167 Lesotho Loti
1 Philippine Peso = 0.0603 Lithuanian Lita
1 Philippine Peso = 0.01227 Latvian Lat
1 Philippine Peso = 0.02675 Libyan Dinar
1 Philippine Peso = 0.18458 Moroccan Dirham
1 Philippine Peso = 0.34721 Moldovan Leu
1 Philippine Peso = 1.01345 Macedonian Denar
1 Philippine Peso = 26.91851 Myanmar Kyat
1 Philippine Peso = 48.53639 Mongolian Tugrik
1 Philippine Peso = 0.15916 Macau Pataca
1 Philippine Peso = 7.1521 Mauritania Ougulya
1 Philippine Peso = 0.66021 Mauritius Rupee
1 Philippine Peso = 0.30696 Maldives Rufiyaa
1 Philippine Peso = 14.16792 Malawi Kwacha
1 Philippine Peso = 0.35121 Mexican Peso
1 Philippine Peso = 0.08291 Malaysian Ringgit
1 Philippine Peso = 0.26183 Namibian Dollar
1 Philippine Peso = 6.9818 Nigerian Naira
1 Philippine Peso = 0.59118 Nicaragua Cordoba
1 Philippine Peso = 0.15441 Norwegian Krone
1 Philippine Peso = 2.05301 Nepalese Rupee
1 Philippine Peso = 0.02722 New Zealand Dollar
1 Philippine Peso = 0.00761 Omani Rial
1 Philippine Peso = 0.01978 Panama Balboa
1 Philippine Peso = 0.06415 Peruvian Nuevo Sol
1 Philippine Peso = 0.06309 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.08386 Pakistani Rupee
1 Philippine Peso = 0.07081 Polish Zloty
1 Philippine Peso = 111.78797 Paraguayan Guarani
1 Philippine Peso = 0.07201 Qatar Rial
1 Philippine Peso = 0.07606 Romanian New Leu
1 Philippine Peso = 1.14001 Russian Rouble
1 Philippine Peso = 16.39142 Rwanda Franc
1 Philippine Peso = 0.07417 Saudi Arabian Riyal
1 Philippine Peso = 0.15268 Solomon Islands Dollar
1 Philippine Peso = 0.26236 Seychelles Rupee
1 Philippine Peso = 0.13172 Sudanese Pound
1 Philippine Peso = 0.15792 Swedish Krona
1 Philippine Peso = 0.02662 Singapore Dollar
1 Philippine Peso = 0.01462 St Helena Pound
1 Philippine Peso = 0.4392 Slovak Koruna
1 Philippine Peso = 148.3386 Sierra Leone Leone
1 Philippine Peso = 11.05617 Somali Shilling
1 Philippine Peso = 406.07593 Sao Tome Dobra
1 Philippine Peso = 0.17306 El Salvador Colon
1 Philippine Peso = 10.18552 Syrian Pound
1 Philippine Peso = 0.26179 Swaziland Lilageni
1 Philippine Peso = 0.65427 Thai Baht
1 Philippine Peso = 0.04862 Tunisian Dinar
1 Philippine Peso = 0.04355 Tongan paʻanga
1 Philippine Peso = 0.06922 Turkish Lira
1 Philippine Peso = 0.13382 Trinidad Tobago Dollar
1 Philippine Peso = 0.5966 Taiwan Dollar
1 Philippine Peso = 44.24446 Tanzanian Shilling
1 Philippine Peso = 0.51938 Ukraine Hryvnia
1 Philippine Peso = 71.10364 Ugandan Shilling
1 Philippine Peso = 0.01978 United States Dollar
1 Philippine Peso = 0.57041 Uruguayan New Peso
1 Philippine Peso = 159.61234 Uzbekistan Sum
1 Philippine Peso = 0.19728 Venezuelan Bolivar
1 Philippine Peso = 449.66376 Vietnam Dong
1 Philippine Peso = 2.04153 Vanuatu Vatu
1 Philippine Peso = 0.04947 Samoa Tala
1 Philippine Peso = 10.86234 CFA Franc (BEAC)
1 Philippine Peso = 0.0534 East Caribbean Dollar
1 Philippine Peso = 10.74723 CFA Franc (BCEAO)
1 Philippine Peso = 1.96618 Pacific Franc
1 Philippine Peso = 4.94363 Yemen Riyal
1 Philippine Peso = 0.26193 South African Rand
1 Philippine Peso = 102.64043 Zambian Kwacha
1 Philippine Peso = 7.15783 Zimbabwe dollar

Auto sector to benefit from tax reform

The Department of Transportation (DOTr) yesterday said rather he proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) will benefit, rather than hurt, the local automotive industry given the projected high demand for alternative public utility vehicles under the jeep modernization program.

In a statement yesterday, the Department of Finance (DOF) quoted DOTR assistant secretary Mark Richmund de Leon as saying the vehicle and car parts  manufacturers would benefit from a planned  incentives program for the local car industry that would help modernize 200,000 to 300,000 public utility jeepneys (PUJs) nationwide.

De Leon said  his department is in talks with the Chamber of Automotive Manufacturers of the Philippines, Inc.(CAMPI) and the Board of Investments on the planned incentives program.

“The DOTr fully supports the proposed excise tax reform package for the automotive industry. And again, we laud the effort and the noble intentions of the bill to propose the earmarking of the collections of the excise tax to support our “Build, Build,Build” Program of the DOTr, including earmarking certain portions of the collections to our public transport reform program, again to address the concerns of our two stakeholders: the car manufacturers and even the car users,” De Leon said at a recent hearing of the Senate ways and means committee.

The “Build, Build, Build Program pertains to the Duterte administration’s P8.4-trillion infrastructure buildup over the next five years. The program aims to strengthen the country’s infrastructure backbone through the construction of new road networks, airports, seaports, and mass transport systems nationwide and the deployment of rapid bus transit systems in Metro Manila, among other initiatives.

“For the car manufacturers, we’re telling the group that there’s a demand for public transportation vehicles. So we’re saying that we are replacing the public transport fleet: 200,000 to 300,000 jeepneys will be modernized, the buses will be upgraded to low-floor buses, similar to what they have in Singapore, in Korea, and other progressive cities. There’s a huge demand for new vehicles, which the industry -- the CAMPI, the parts manufacturers -- will also benefit from,” De Leon said.

De Leon said the DOTr’s goal to reform the public transport system aims to help decongest traffic in Metro Manila’s main thoroughfares by encouraging car users to take public transport.

“In fact, in Alabang, the route from Alabang Town Center to Makati, we’ve done numerous surveys and they show that, in fact, 40 percent of the users there are previously car users, De Leon said, referring to the Point-to-Point bus system running on that route.
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“In order for people to really patronize public transportation, we just need to really reform the routes and even the public transport vehicles for it to be more attractive to this car-riding public,” he added. 

The DOF has assured senators that subcompact sedans such as the Mitsubishi Mirage and compact multipurpose vehicles such as the Toyota Innova models will remain affordable to middle-class families despite the proposed automobile excise tax increases under the tax reform bill because they are bound to get significant personal income tax rate (PIT) cuts that will more than offset the slight price markups on these cars.

DOF Undersecretary Karl Kendrick Chua said the reforms in the excise tax system for automobiles under the TRAIN, will, however, impact luxury vehicles such as the Land Cruiser, given that the objective of tax reform is to make the system more progressive by imposing stiffer consumption taxes on the wealthy, or those who can well afford to pay these high rates.
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