P4

The government is accelerating the rollout of social mitigation measures such as unconditional transfers (UCTs) and fuel vouchers, which need to be complemented by the enactment into laws of a national ID system and the lifting of restrictions on rice imports to further ease the impact of inflation on the country’s vulnerable sectors, the Department Read More

P4

A significant portion of the higher April inflation rate could be attributed to higher domestic demand, given that people now have about P32 billion more to spend monthly as a result of the personal income tax (PIT) cuts under the Tax Reform for Acceleration and Inclusion Act (TRAIN) Law, the unconditional cash transfer program, the Read More

P4

The Tax Reform for Acceleration and Inclusion (TRAIN) Law allows the suspension of fuel excise tax increases but only under specific conditions, the Department of Finance (DOF) said as it stressed that the government has an array of measures to mitigate the effect of rising oil prices triggered by the escalating cost of petroleum in Read More

P4

Finance Secretary Carlos Dominguez III said Friday the impressive increase in revenues, particularly on tax collections by revenue agencies for the first four months of 2018 as a result of the effective implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law, enabled the government to sustain its aggressive spending policy without breaching the Read More

P4

A spike in rice prices because of alleged lack of supply, a weak peso, rising oil prices abroad, better tax compliance of local cigarettes, and growing consumer demand accounted for the bulk of the 4.5 percent inflation in April. “Inflation rose mainly because of local and global factors. TRAIN accounted for only 0.4 percentage points Read More

P4

At least a half-dozen big business and civil society organizations have expressed their support for the proposed reforms in the corporate tax system and the modernization of investment incentives as vital elements to further enhance the competitiveness of the Philippine economy and level the playing field for investors and businesses. A report by the Strategy, Read More

P4

Finance Secretary Carlos Dominguez III has called on lawmakers to proceed with approving the Duterte administration’s proposed reforms on corporate taxation and the modernization of investment incentives as he allayed apprehensions over the impact on prices of the first tax reform package, which contributed less than a half-percentage point to last month’s inflation rate. Dominguez Read More

P4

Ten former secretaries and undersecretaries of the Department of Finance (DOF) have thrown their full support behind the Duterte administration’s second proposed tax reform package that aims to lower the corporate income tax (CIT) and modernize investment incentives as effective tools in ensuring a “fair, competitive and growing” business sector in one of Asia’s fastest Read More

P4

The moderate rise in inflation is only “temporary” and remains manageable under a robust economy even with the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law, which is necessary to support funding for the government’s massive spending on the “Build, Build, Build” program and on social services, according to the Department of Read More

P4

Finance Secretary Carlos Dominguez III has cautioned against calls to suspend the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law as such a move would derail the implementation of the government’s “Build, Build, Build” program meant to sustain the economy’s high growth momentum, and possibly even imperil the free tuition program in Read More