Toyota remits record P52.5 billion in duties, taxes

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March 4, 2026 | 12:00am

MANILA, Philippines — Leading automotive firm Toyota Motor Philippines Corp. (TMP) remitted record-high duties and tax payments amounting to P52.5 billion to the government last year, making it the country’s second biggest importer.

In a statement, TMP said that it was recognized as the Top 2 Importer for 2025 by the Bureau of Customs after it remitted a record-breaking P52.517 billion in duties and taxes last year.

The amount represents the highest contribution made by TMP since it began operations.

It is also higher than the P43.91 billion remitted by the company in 2024.

As an Authorized Economic Operator Level 2 certification holder, TMP enjoys streamlined logistical operations through expedited customs clearance procedures.

TMP’s tax remittance reflects the steady performance of the Philippine automotive industry.

Last year, the country’s total vehicle sales hit an all-time high of 491,395 units, up by 3.7 percent from the previous record-high of 473,842 units in 2024.

TMP accounted for around 46 percent of the country’s total vehicle sales last year as it sold 229,447 units, up by 5.2 percent from 2024’s.

Beyond its national tax contributions, TMP is helping drive regional growth in Laguna, where its headquarters and manufacturing plant are located.

TMP manufactures the Vios, Innova and Tamaraw.

The automotive firm is also helping advance the country’s shift toward more sustainable mobility through its electrified vehicle offerings.

Earlier, TMP president Masando Hashimoto said that the company remains committed to working closely with the government to revitalize the automotive industry and contribute to nation-building.