Good morning. Luxury may soon come with an even bigger price tag. A House bill proposes taxes of up to 75% on high-end cars, while Philippine debt hits another record. Also today: sweetened drinks face a possible tax hike, Alex Eala makes TIME100 Next, and robots keep getting even stranger.

Stay Sharp.

What happened: House Bill 11465 proposes much higher taxes on luxury vehicles. Cars priced above ₱4 million to ₱8 million would face a 50% ad valorem tax, while those above ₱8 million would be taxed at 75%.

Zoom in: Mercedes-Benz Philippines expects premium car prices to rise if the measure becomes law. The bill could generate around ₱3.91 billion in additional annual government revenue.

Why it matters: Rep. Miro Quimbo says the proposal aims to make the tax system more progressive by charging more on high-value purchases.

What’s next: The bill also seeks to raise taxes on certain non-essential goods from 20% to 25%, while removing perfumes and toilet water from the taxed list.

Philippine government debt reached a record ₱19.606 trillion in August, up 1.12% or ₱217.62 billion from July, according to the Bureau of the Treasury. Debt has risen 10.72% or ₱1.90 trillion since end-2025. The increase reflected new government securities, external borrowing and peso depreciation that raised foreign-currency debt values.

Luxury Cars Face Steeper Taxes

The House is considering a bill that would raise luxury-car taxes to as much as 75% for vehicles priced above ₱8 million. House Bill 11465 could generate an estimated ₱3.91 billion annually, while premium dealers warn that higher taxes would likely push vehicle prices higher if enacted.

PH Slips to 52nd in Innovation

The Philippines fell two places to 52nd among 139 economies in the 2026 Global Innovation Index, down from 50th in 2025. Its innovation-input ranking dropped to 69th from 59th, while output stayed at 49th. The country ranked third among 36 lower-middle-income economies and 11th regionally.

Dollar Heads for Strong September Gain

The US dollar is on track for its strongest monthly gain against the euro in 14 months, rising nearly 2.2% in September. The euro slipped to around $1.135 as stronger US economic data and higher interest-rate expectations supported the dollar. The currency also strengthened against most major currencies during September.

Alexandra Eala was named to TIME100 Next 2026, becoming the only tennis player on the list and earning recognition in the Innovators category for her rising global influence. (Read more)

Jennylyn Gets Support Amid Patrick Garcia Issue

Jennylyn Mercado’s manager Becky Aguila and husband Dennis Trillo defended the actress after Patrick Garcia discussed their past relationship, while Mercado declined to comment publicly amid the renewed public discussion. (Read More)

PREP Returns To Manila Again

British indie-pop band PREP will return to Manila for the sixth time, bringing its jazz, soul, and West Coast pop-influenced sound back to Filipino fans during its 2026 Asia plans. (Read More)

What’s happening: The DOF wants to raise excise taxes on sweetened beverages to ₱20/liter from ₱6, and to ₱40 from ₱12 for drinks using high-fructose corn syrup. It also proposes 5% annual indexation. Some bills could include 3-in-1 coffee and flavored or fermented milk. 

Why it matters: After the 2018 tax, taxable drink prices rose 16.6%-20.6%, while overall sweetened-beverage consumption fell 6.5%. Higher taxes could again pressure demand and company margins. 

The big picture: The DOF estimates around ₱74.8 billion in annual collections. AB Capital sees a watered-down increase as more likely than the full proposal.

In collaboration with AB Capital Securities. This section is for informational purposes only and does not constitute investment advice. Please conduct your own research or consult a licensed professional before making investment decisions.

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