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The American Chamber of Commerce of the Philippines (AmCham) has joined the long list of prominent organizations from various sectors that have expressed their support for the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN), saying that it passes its criteria of being highly progressive, consumption-based, and providing incentives for people to work, save Read More

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Finance Secretary Carlos Dominguez III said Thursday night the Philippines has reached the “make-or-break point” in its economic emergence, with the Comprehensive Tax Reform Program (CTRP) being pushed by the Duterte administration in the Congress setting the stage for the country to join the elite club of the world’s fast-growing, high-income economies one generation from Read More

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Exactly one year this week after the Department of Finance (DOF) formally submitted to the Congress the first package of the Duterte administration’s Comprehensive Tax Reform Program (CTRP) that aims to make the current tax system simpler, fairer and more efficient, the DOF is now moving closer to having the game-changing proposal approved with the Read More

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The Department of Finance (DOF) has maintained that the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) will benefit 99 percent of Filipino households because of its proposed income tax cuts for salaried workers plus the unconditional cash transfers for the country’s poorest families. Also, fears over the supposedly adverse impact of the proposed Read More

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DOF thanks Angara committee for endorsing TRAIN for Senate OK The Department of Finance (DOF) has welcomed the endorsement by the Senate ways and means committee for plenary approval of Senate Bill No. 1592, its version of the Tax Reform for Acceleration and Inclusion (TRAIN), with DOF Secretary Carlos Dominguez III lauding the panel for Read More

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Finance Secretary Carlos Dominguez III said even non-wage earners who will not get tax breaks under the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) will still benefit greatly from it in the form of better infrastructure, more jobs and expanded access to education, health and other social services that will be partly funded Read More