Toyota Philippines remits P52.5B in taxes, ranks No. 2 importer

The country’s leading mobility company, Toyota Motor Philippines (TMP), said it remitted ₱52.517 billion in duties and taxes to the national government, reinforcing its role as a major contributor to the economy.

At the recently concluded 124th Founding Anniversary of the Bureau of Customs, TMP was cited as one of the agency’s top revenue contributors, earning second spot importer status for 2025.

The amount marks TMP’s highest annual contribution since it began operations and reflects a substantial increase from the ₱43.91 billion remitted in 2024.

TMP, an Authorized Economic Operator (AEO) Level 2 certification holder, said its fiscal contribution also supported the BOC’s revenue drive, which recorded ₱934.4 billion in total collections in 2025 — a 1.9 percent increase from the previous year.

The company said the latest figures mirror the steady performance of the Philippine automotive sector, with total industry sales reaching 491,395 units in 2025.

According to the Chamber of Automotive Manufacturers of the Philippines, Inc. year-end report, the Commercial Vehicle segment was the primary driver of unit sales, posting a seven percent growth rate.

In parallel, TMP advanced the country’s transition toward sustainable mobility, reporting a 39 percent growth in its electrified vehicle portfolio.

The portfolio includes imported Hybrid Electric Vehicle and Battery Electric Vehicle models from both the Toyota and Lexus lineups, expanding consumer access to lower-emission mobility options while supporting government sustainability goals.

Beyond its national tax remittances, TMP said it remains a key driver of regional growth in Laguna, where its headquarters and manufacturing operations are based.

Data from the Philippine Statistics Authority show that Laguna is the country’s top provincial economy and the only province to exceed ₱1 trillion in economic output. The province contributes 4.9 percent to total Philippine gross domestic product and ranks third overall after Quezon City and Makati City.

TMP said its continued investments, employment generation, supply chain activity and technology introduction contribute significantly to this regional strength, underscoring its long-term commitment to nation-building.

During the BOC anniversary celebration, Finance Secretary Frederick Go and BOC Commissioner Ariel Nepomuceno emphasized the role of key industry stakeholders in sustaining revenue growth, strengthening economic security and advancing the country’s development agenda.