Philippine DTI Automotive Safeguard Bond and refund guide

The Department of Trade and Industry put a stop to its safeguard duty bonds in August. The bond and subsequent refund vary depending on the type of completely built-up unit (CBU).

Here’s a list of brands and the status of their refunds as of August 16, 2021. 

This article is subject to change as more developments come. 

Did not collect safeguard duty bonds.

Did not collect safeguard duty bonds.

No announcements yet with regards to the safeguard duty bonds and if they will adjust their prices.

GAC has increased the pricing of its vehicle lineup in the country. There is no announcement yet from the automaker if they plan to refund the safeguard deposit bonds and if they will have a price adjustment for their lineup. 

Did not collect any safeguard duty bonds.

Honda Philippines has stated that it is no longer collecting safeguard deposit bonds on the cars it sells in the Philippines. Interested customers who want to get their refunds can do so via the brand’s website and online forms. 

The following are the refunds to be expected per model: 

• Honda Brio S/V P40,000
• Honda Brio RS/ RS Black Top P60,000
• Honda City Sedan P7,000
• Honda City Hatchback P13,000
• Honda Civic E/RS P10,000
• Honda BR-V S/V P30,000
• Honda HR-V RS P30,000

Did not collect safeguard duty bonds.

The brand has already begun the process of refunding its customers for the safeguard deposit tax on all of its vehicles. Isuzu has already started its customers to begin the process and to discuss the claim procedure and schedule for the release of the security deposits.

Kia Philippines has announced that it will be refunding customers who have bought a vehicle from them during the implementation of the safeguard duty security deposit. The Korean automaker has also stated that its dealerships will be getting in touch with its customers to schedule and process the refund. Along with this, the retail prices for the Kia Stonic and Kia K2500 have been adjusted accordingly with no security deposits to be collected from either model. 

Maxus Philippines has officially announced that it will stop collecting safeguard duty bonds for all of its models. The automaker will return all security bonds paid buy customers who recently have bought a vehicle from them. Its dealerships will begin the process of getting in touch with concerned customers with regard to the schedule and process of how to claim their refunds.

The Japanese automaker has already stopped collecting the safeguard duty bond. Customers can already contact their local Mazda dealerships for the release of their refunds.

Did not collect safeguard duty bonds.

Mitsubishi is no longer collecting the safeguard duty bonds for all of its imported vehicles in the Philippines. The automaker has already told its dealerships to reach out to concerned customers to process their refund. 

Has already begun the process of refunding customers who bought a Nissan Navara from April 8 to August 11, 2021, the only model affected by the safeguard duty bond. Nissan has also already begun to contact its customer base with regards to who they can claim their security deposits. 

Pricing for the Nissan Navara has already been adjusted accordingly without the safeguard deposit bonds. 

Customers can expect a refund of P123,200 for their Navara units, this includes that 12% VAT that has been added to the security bond. 

Did not collect safeguard duty bonds.

Did not collect safeguard duty bonds.

The Japanese automaker has officially discontinued the collection of the safeguard duty security deposit on all of its models starting August 13, 2021. However, Suzuki has stated it will refund the security deposit once the refund has been directed by the Bureau of Customs. Its dealerships will get in touch with the concerned customers for their schedules and process the refund claims. 

Toyota has stopped the collection of the safeguard duty bonds in the country and has already begun the process of refunding its customers.

Volkswagen Philippines has officially announced that it will stop collecting safeguard duty bonds for all of its models. The automaker will return all security bonds paid buy customers who recently have bought a vehicle from them. Its dealerships will begin the process of getting in touch with concerned customers with regard to the schedule and process of how to claim their refunds.