Toyota recognized for tax contributions
TOYOTA MOTOR Philippines Corp. (TMP) was recently recognized for its tax contributions on the national and provincial levels. The Bureau of Customs (BoC) and the Provincial Government of Laguna named TMP as the country’s third top importer and revenue contributor for the year 2022 and Laguna’s “Outstanding Taxpayer 2023,” respectively.
TMP, the largest automotive and mobility company in the Philippines, remitted a total of P34.59 billion in duties and taxes for the BoC’s January to December 2022 collection.
TMP and BoC jointly operate the Port of Batangas (PoB) for the importation of automotive products including various Toyota and Lexus vehicle models, multi-sourced parts for production, and service parts from the Asia-Pacific region. While serving as the primary channel for completely built-up (CBU) vehicle units, PoB also serves as a gateway for the export of OEM parts and components produced by Toyota export parts suppliers, making it an important link to Toyota’s global supply chain.
TMP also has notable business operations with the BoC-Manila International Container Terminal (MICT) where it was recently certified as a “Flagship Elite” member by International Container Services, Inc., one of MICT’s operators.
On the provincial level, TMP was nominated by the Santa Rosa city government as the “City’s Exceptional Taxpayer” for the Laguna “Outstanding Taxpayer Award 2023.” Laguna Governor Ramil Hernandez conferred the award, recognizing the company’s “diligent and responsible tax payments” during the Laguna Business Stakeholders Convention and Innovation Summit held at the Laguna Provincial Capitol.
TMP is engaged in the production of local Toyota vehicle models, Vios and Innova, at its manufacturing plant in Santa Rosa City, Laguna. The company is also engaged in the wholesale distribution of Toyota and Lexus vehicles through its 73 dealers (including Lexus Manila) across the country.
