September 20, 2017, 7:05 pm
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1 Philippine Peso = 0.07179 UAE Dirham
1 Philippine Peso = 2.17553 Albanian Lek
1 Philippine Peso = 0.03474 Neth Antilles Guilder
1 Philippine Peso = 0.33168 Argentine Peso
1 Philippine Peso = 0.02434 Australian Dollar
1 Philippine Peso = 0.03495 Aruba Florin
1 Philippine Peso = 0.03909 Barbados Dollar
1 Philippine Peso = 1.57584 Bangladesh Taka
1 Philippine Peso = 0.03196 Bulgarian Lev
1 Philippine Peso = 0.00736 Bahraini Dinar
1 Philippine Peso = 33.8794 Burundi Franc
1 Philippine Peso = 0.01955 Bermuda Dollar
1 Philippine Peso = 0.02626 Brunei Dollar
1 Philippine Peso = 0.13468 Bolivian Boliviano
1 Philippine Peso = 0.06076 Brazilian Real
1 Philippine Peso = 0.01955 Bahamian Dollar
1 Philippine Peso = 1.25293 Bhutan Ngultrum
1 Philippine Peso = 0.19814 Botswana Pula
1 Philippine Peso = 391.32134 Belarus Ruble
1 Philippine Peso = 0.03905 Belize Dollar
1 Philippine Peso = 0.02381 Canadian Dollar
1 Philippine Peso = 0.01878 Swiss Franc
1 Philippine Peso = 12.19703 Chilean Peso
1 Philippine Peso = 0.12797 Chinese Yuan
1 Philippine Peso = 56.56763 Colombian Peso
1 Philippine Peso = 11.20407 Costa Rica Colon
1 Philippine Peso = 0.01955 Cuban Peso
1 Philippine Peso = 1.80414 Cape Verde Escudo
1 Philippine Peso = 0.42683 Czech Koruna
1 Philippine Peso = 3.47146 Djibouti Franc
1 Philippine Peso = 0.12175 Danish Krone
1 Philippine Peso = 0.92005 Dominican Peso
1 Philippine Peso = 2.16386 Algerian Dinar
1 Philippine Peso = 0.25592 Estonian Kroon
1 Philippine Peso = 0.3448 Egyptian Pound
1 Philippine Peso = 0.45563 Ethiopian Birr
1 Philippine Peso = 0.01636 Euro
1 Philippine Peso = 0.0398 Fiji Dollar
1 Philippine Peso = 0.0144 Falkland Islands Pound
1 Philippine Peso = 0.01438 British Pound
1 Philippine Peso = 0.08637 Ghanaian Cedi
1 Philippine Peso = 0.87373 Gambian Dalasi
1 Philippine Peso = 174.19859 Guinea Franc
1 Philippine Peso = 0.14252 Guatemala Quetzal
1 Philippine Peso = 3.99648 Guyana Dollar
1 Philippine Peso = 0.15278 Hong Kong Dollar
1 Philippine Peso = 0.45582 Honduras Lempira
1 Philippine Peso = 0.12205 Croatian Kuna
1 Philippine Peso = 1.20133 Haiti Gourde
1 Philippine Peso = 5.05786 Hungarian Forint
1 Philippine Peso = 258.65911 Indonesian Rupiah
1 Philippine Peso = 0.06872 Israeli Shekel
1 Philippine Peso = 1.25233 Indian Rupee
1 Philippine Peso = 22.81079 Iraqi Dinar
1 Philippine Peso = 654.02658 Iran Rial
1 Philippine Peso = 2.07584 Iceland Krona
1 Philippine Peso = 2.54613 Jamaican Dollar
1 Philippine Peso = 0.01384 Jordanian Dinar
1 Philippine Peso = 2.17369 Japanese Yen
1 Philippine Peso = 2.00743 Kenyan Shilling
1 Philippine Peso = 1.34064 Kyrgyzstan Som
1 Philippine Peso = 79.2025 Cambodia Riel
1 Philippine Peso = 8.08053 Comoros Franc
1 Philippine Peso = 17.59187 North Korean Won
1 Philippine Peso = 22.0045 Korean Won
1 Philippine Peso = 0.00588 Kuwaiti Dinar
1 Philippine Peso = 0.01603 Cayman Islands Dollar
1 Philippine Peso = 6.62568 Kazakhstan Tenge
1 Philippine Peso = 161.53245 Lao Kip
1 Philippine Peso = 29.42533 Lebanese Pound
1 Philippine Peso = 2.98769 Sri Lanka Rupee
1 Philippine Peso = 2.27717 Liberian Dollar
1 Philippine Peso = 0.25762 Lesotho Loti
1 Philippine Peso = 0.05959 Lithuanian Lita
1 Philippine Peso = 0.01213 Latvian Lat
1 Philippine Peso = 0.02655 Libyan Dinar
1 Philippine Peso = 0.18266 Moroccan Dirham
1 Philippine Peso = 0.34275 Moldovan Leu
1 Philippine Peso = 1.00176 Macedonian Denar
1 Philippine Peso = 26.48554 Myanmar Kyat
1 Philippine Peso = 47.84988 Mongolian Tugrik
1 Philippine Peso = 0.15735 Macau Pataca
1 Philippine Peso = 7.05629 Mauritania Ougulya
1 Philippine Peso = 0.65031 Mauritius Rupee
1 Philippine Peso = 0.30336 Maldives Rufiyaa
1 Philippine Peso = 13.99922 Malawi Kwacha
1 Philippine Peso = 0.34428 Mexican Peso
1 Philippine Peso = 0.08176 Malaysian Ringgit
1 Philippine Peso = 0.25704 Namibian Dollar
1 Philippine Peso = 6.88038 Nigerian Naira
1 Philippine Peso = 0.5933 Nicaragua Cordoba
1 Philippine Peso = 0.15326 Norwegian Krone
1 Philippine Peso = 1.99961 Nepalese Rupee
1 Philippine Peso = 0.02667 New Zealand Dollar
1 Philippine Peso = 0.00752 Omani Rial
1 Philippine Peso = 0.01955 Panama Balboa
1 Philippine Peso = 0.06351 Peruvian Nuevo Sol
1 Philippine Peso = 0.06226 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.05629 Pakistani Rupee
1 Philippine Peso = 0.06996 Polish Zloty
1 Philippine Peso = 110.44762 Paraguayan Guarani
1 Philippine Peso = 0.07117 Qatar Rial
1 Philippine Peso = 0.07527 Romanian New Leu
1 Philippine Peso = 1.12619 Russian Rouble
1 Philippine Peso = 16.18804 Rwanda Franc
1 Philippine Peso = 0.0733 Saudi Arabian Riyal
1 Philippine Peso = 0.15296 Solomon Islands Dollar
1 Philippine Peso = 0.26388 Seychelles Rupee
1 Philippine Peso = 0.13018 Sudanese Pound
1 Philippine Peso = 0.15555 Swedish Krona
1 Philippine Peso = 0.02627 Singapore Dollar
1 Philippine Peso = 0.0144 St Helena Pound
1 Philippine Peso = 0.43405 Slovak Koruna
1 Philippine Peso = 146.59891 Sierra Leone Leone
1 Philippine Peso = 10.88741 Somali Shilling
1 Philippine Peso = 400.87765 Sao Tome Dobra
1 Philippine Peso = 0.17103 El Salvador Colon
1 Philippine Peso = 10.06607 Syrian Pound
1 Philippine Peso = 0.25709 Swaziland Lilageni
1 Philippine Peso = 0.64621 Thai Baht
1 Philippine Peso = 0.04766 Tunisian Dinar
1 Philippine Peso = 0.04368 Tongan paʻanga
1 Philippine Peso = 0.06714 Turkish Lira
1 Philippine Peso = 0.13149 Trinidad Tobago Dollar
1 Philippine Peso = 0.58751 Taiwan Dollar
1 Philippine Peso = 43.66693 Tanzanian Shilling
1 Philippine Peso = 0.51173 Ukraine Hryvnia
1 Philippine Peso = 70.19156 Ugandan Shilling
1 Philippine Peso = 0.01955 United States Dollar
1 Philippine Peso = 0.56626 Uruguayan New Peso
1 Philippine Peso = 157.93589 Uzbekistan Sum
1 Philippine Peso = 0.19498 Venezuelan Bolivar
1 Philippine Peso = 444.15559 Vietnam Dong
1 Philippine Peso = 2.06353 Vanuatu Vatu
1 Philippine Peso = 0.04908 Samoa Tala
1 Philippine Peso = 10.72635 CFA Franc (BEAC)
1 Philippine Peso = 0.05278 East Caribbean Dollar
1 Philippine Peso = 10.62119 CFA Franc (BCEAO)
1 Philippine Peso = 1.9398 Pacific Franc
1 Philippine Peso = 4.88468 Yemen Riyal
1 Philippine Peso = 0.25718 South African Rand
1 Philippine Peso = 101.43667 Zambian Kwacha
1 Philippine Peso = 7.07389 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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