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Automotive industry to benefit from TRAIN

Contrary to claims that the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) will hurt the local automotive industry, the Department of Transportation (DOTr) said the bill will even benefit vehicle and car parts manufacturers given the projected high demand for alternative public utility vehicles under the jeep modernization program outlined in the tax 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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TRAIN to end ‘unjust taxation’, shift tax burden to the rich

Finance Secretary Carlos Dominguez III said the tax reform agenda being pushed by the Duterte administration seeks to end “decades of unjust taxation that polarized wealth rather than distributed it” in proposing to shift the tax burden from the lower 99 percent of the country’s population to its wealthiest one percent. This reform package, popularly 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