RMC No. 130-2024: Circularizing the Implementing Rules and Regulations of Republic Act No. 11698, entitled “An act regulating the use and other activities related to vintage automobiles and other historical, classic, or collector motor vehicles, and providing for their exemption from the standards and restrictions set by laws, and regulations issued after the date of their manufacture”

Key points

1. Imported personal vintage vehicles. For imported personally-owned vintage vehicles for personal use, the requirement of an Authority to Release Imported Goods is dispensed with. This is subject to rules issued by the Secretary of the Department of Finance and the Commissioners of the Bureau of Customs and the BIR.
2. Restoration shops. Restoration shops and companies accredited by the DTI as service and repair enterprises under PD No. 1572, s. 1978, that import vintage vehicles for restoration and export, can avail of fiscal and tax incentives under RA No. 11534 (CREATE Act) and other laws.
3. CREATE Act compliance. They must comply with Sections 297(B) and 304 of the NIRC as amended by the CREATE Act and follow Part III of its IRR. This includes listing the activity in the Strategic Investment Priority Plan, a cost-benefit analysis, and compliance with agreed performance commitments.
4. Registration of vintage vehicles. Vintage vehicles already registered for the current year when the Regulations take effect may immediately register under a vintage vehicle subclassification. The registration is valid for two (2) years from the expiry of the current year’s registration, with a motor vehicle user’s charge equivalent to two (2) years collected in addition to other applicable fees.

Who is affected

• Owners of personally-owned vintage vehicles
• DTI-accredited restoration shops and companies importing vintage vehicles

Deadlines and effectivity

• Registration valid two (2) years from expiry of the current year’s registration