Republic Acts1 min read
Section 8Sec./Art. 8
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Valuation for Tariffs, Import Duties and Other Taxes. The Bureau of Customs (BOC), for purposes of valuation for tariffs, import duties and other taxes of imported vintage vehicle, shall differentiate concours, RESTOMOD and for restoration vintage vehicle. Restoration mode and for restoration shall have a lower valuation against concours for the same make and model of vintage vehicle. For purposes of this section, for restoration vintage vehicle shall mean a vintage vehicle, whether containing the important parts such as engine, transmissions, chassis and body or just the body shell, which is for further modification or restoration in the Philippines.
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