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Non-taxpayers to benefit from new tax reform law

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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2017 a year for DOF’s first major​ legislative win for Duterte

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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Duterte orders DOF to ensure TRAIN’s effective implementation

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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TRAIN is Duterte admin’s “best Xmas and New Year’s gift” to Filipino people, says Dominguez

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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Personal income tax rates in TRAIN aligned with ASEAN practices—NTRC

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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NEDA exec says tax reform to create 500,000 jobs

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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PNP backs tax reform bill

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