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IC backs insurance sector-friendly TRAIN

The Insurance Commission (IC) is supporting the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) as this would make the system more financially inclusive and provide insurers the opportunity to cash in on the massive infrastructure buildup of the Duterte administration that will be partly funded by this tax reform package. IC Commissioner Dennis Read More

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Pro-poor SSB tax gains wider support

Assorted institutions have expressed their support for the proposed tax on sugar-sweetened beverages (SSBs), which its main proponent in the Congress has described as a pro-poor measure meant to curve consumption and thus help check the alarming rise in obesity cases among Filipino kids and adults alike. Nueva Ecija Rep. Estrellita Suansing, the primary proponent Read More

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BPOs to continue high growth under tax reform

The thriving business process outsourcing sector will keep its global competitiveness in the export market despite the implementation of a progressive tax reform program because, contrary to the apprehension of certain industry stakeholders, the foreign services of BPO companies in special economic zones (SEZs) will remain exempted from the value-added tax (VAT), while those outside Read More

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Ex-NEDA chief says slight, temporary inflation hike under tax reform won’t hurt low-income earners

Former National Economic and Development Authority (NEDA) director-general Felipe Medalla said the slight, temporary inflation increase arising from the adjustments in oil excise taxes under the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) will not hurt low-income earners or members of the informal sector owing to the safety nets for the poor and Read More

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DOF to hold tax reform awareness forum this week

The Department of Finance (DOF) will conduct a forum this Wednesday to heighten public awareness of, and support for, the Duterte administration’s proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) that aims to benefit 99 percent of Filipino taxpayers and help sustain the government’s accelerated spending on infrastructure, education, health and social protection programs. Read More