N. Ecija Cong Suansing urges BOI to come up with IRR on vehicle importation program
Nueva Ecija 1st District Representative Estrellita Suansing urged the Board of Investments to come up with Implementing Rules and Regulations for the government’s Motor Vehicle Development Program (MVDP).
Suansing, who chairs the House Committee on Ways and Means, issued the call during a hearing Wednesday on the alleged violations of Hyundai Asia Resources, Inc. (HARI).
The committee conducted a probe on the alleged violations of HARI when it misdeclared the importation of some completely built-up vehicles as completely knocked down (CKD) kits.
The MVDP grants incentives and reduced importation duties to car manufacturers that bring in CKD kits for assembly in the country before the vehicle can be sold. The import duties imposed is only one percent, instead of the regular 30 percent tariff.
It was learned during the hearing, however, that HARI already complied with the conditions of the BOI, including payment of their actual dues, and the company’s registration has been restored.
“In the absence of the IRR, talagang magkakagulo tayo. We really encourage the BOI to come up with the IRR,” Suansing said.(END)
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