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Finance Secretary Carlos Dominguez III has made it clear that even non-taxpayers will benefit from the Tax Reform for Acceleration and Inclusion Act (TRAIN), the first package of the Duterte administration’s Comprehensive Tax Reform Program (CTRP), by way of more job opportunities, better infrastructure that will lower the transport and distribution costs of goods, and Read More

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The Department of Finance (DOF) scored its first major ​legislative victory for the Duterte administration and the Filipino people in 2017 with the approval and signing into law of the first package of its Comprehensive Tax Reform Program (CTRP)—the Tax Reform for Acceleration and Inclusion Act (TRAIN)–which will provide hefty income tax cuts for majority Read More

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President Duterte has instructed the Department of Finance (DOF) to ensure the effective implementation of the Tax Reform for Acceleration and Inclusion Act (TRAIN), and to immediately submit to Congress early next year Package Two of the Comprehensive Tax Reform Program (CTRP), which aims to lower corporate income taxes and modernize fiscal incentives, to complement Read More

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President Duterte’s signing into law of the landmark Tax Reform for Acceleration and Inclusion Act (TRAIN) is the government’s “biggest Christmas and New year’s gift” to the Filipino people as it will usher in “real positive change” for the nation beginning in 2018, according to Finance Secretary Carlos Dominguez III. Dominguez said the congressional passage Read More

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Finance Secretary Carlos Dominguez III has thanked the Congress for ratifying the Tax Reform for Acceleration and Inclusion Act (TRAIN) before the legislature takes its traditional yearend break this week, keeping the Department of Finance (DOF) on schedule for the signing of the bill into law by the President this month and the​implementation of this Read More

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Leaders of foreign business institutions and Cabinet officials have reiterated their support for the Tax Reform for Acceleration and Inclusion Act (TRAIN) as a key factor in transforming the country into an investment-led economy that truly benefits the poor and grows a strong middle class. Julian Payne, the president of the Canadian Chamber of Commerce Read More

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The lowering of personal income tax (PIT) rates under the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) are in sync with the practices of other countries in the Association of Southeast Asian Nations (ASEAN), according to the National Tax Research Center (NTRC). NTRC Executive Director Trinidad Rodriguez said the TRAIN, which exempts those Read More

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An official of the National Economic and Development Authority (NEDA) said the Duterte administration’s Proposed Comprehensive Tax Reform Program (CTRP) will create about half a million jobs over the next half-decade and could lift up to 250,000 Filipinos out of poverty over the same period. According to NEDA National Policy and Planning Staff Director Reynaldo Read More

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The Philippine National Police (PNP) has expressed its “ardent support” for the Tax Reform for Acceleration and Inclusion Act (TRAIN), notably its proposed hefty personal income tax (PIT) cuts for uniformed personnel and the rest of the working class. PNP chief Director General Ronald Dela Rosa said the PIT cuts, which, he said, will benefit Read More

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Nineteen former heads and deputy chiefs of the Department of Finance (DOF) and the National Economic and Development Authority (NEDA) have given their full support to the DOF’s comprehensive tax reform program, which, they said, would “correct the structural weaknesses” of the country’s system and serve as a tool to decisively attack poverty and achieve Read More