Daily TribuneThe steady increase reflects TMP’s continued financial contributions to the country’s economic growth
Toyota Motor Philippines is honored during the Bureau of Customs’ 123rd founding anniversary celebration. Shown are: (from left) President Ferdinand Marcos Jr.; Bienvenido Y. Rubio, BoC commissioner; and Dennis Ben-Hur Escuro, Toyota Motor Philippines first vice president for Comptrollership.
Photograph courtesy OF BOC
Toyota Motor Philippines Corporation (TMP), the country’s leading automotive brand, recently earned two notable recognitions for its impact on the economy and environmental initiatives in 2024. The Bureau of Customs (BoC) ranked TMP as the second-highest contributor in duties and taxes, while the Department of Environment and Natural Resources (DENR)-Environmental Management Bureau (EMB) acknowledged the company for its role in environmental conservation.
TMP’s total remittance for duties and taxes reached P43.91 billion in 2024, slightly surpassing the P43.90 billion recorded in 2023. This steady increase reflects TMP’s continued financial contributions to the country’s economic growth.
The BoC, with the presence of Philippine President Ferdinand Marcos Jr., honored TMP during its 123rd founding anniversary celebration at the Philippine International Convention Center (PICC), Pasay City.
TMP’s business encompasses automotive manufacturing, sales and distribution, involving key BoC ports such as the Port of Batangas (PoB), Manila International Container Port (MICP) and Ninoy Aquino International Airport (NAIA).
The company’s strategic use of the PoB, particularly in conjunction with the TMP Batangas Vehicle Center (BVC), has streamlined logistics and facilitated the distribution of record-high sales of 218,019 Toyota and Lexus brand vehicles in 2024.
Additionally, TMP utilizes the MICP and NAIA for importing local production parts and genuine parts and accessories, respectively.
In a separate event, the DENR-EMB recognized TMP’s commitment to environmental sustainability during its “Recognition of Partners in Environmental Sustainability” event in Quezon City.
TMP was honored for its active participation in various environmental initiatives, particularly on climate action, reforestation, and biodiversity conservation, all conducted in collaboration with the DENR.
