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  • Salceda: TRAIN ‘skillfully crafted’ to tax rich more while protecting poor

    Salceda: TRAIN ‘skillfully crafted’ to tax rich more while protecting poor

    One of the main proponents of the Tax Reform for Acceleration and Inclusion Act (TRAIN) in the Congress has described the law as “skillfully crafted” because it taxes the rich more while providing social mitigation measures to shield the poor from its temporary inflationary impact. Albay Representative Joey Salceda, a senior vice chairperson of the Read More>>
  • TRAIN putting more money into the hands of consumers  to make up for the slight increase in prices—DOF

    TRAIN putting more money into the hands of consumers to make up for the slight increase in prices—DOF

    The Tax Reform for Acceleration and Inclusion Act (TRAIN) has increased the incomes or spending power of Filipino consumers to more than make up for the moderate rise in inflation that happens in fast-growing economies, according to the Department of Finance (DOF). Finance Assistant Secretary Paola Alvarez said one positive effect of high economic growth Read More>>
  • Dominguez: Tax reform, infra buildup  to revolutionize PHL eco development

    Dominguez: Tax reform, infra buildup to revolutionize PHL eco development

    The Duterte administration’s twin pillars for economic inclusion—the comprehensive tax reform program and massive infrastructure buildup under its “Build, Build, Build” initiative—will “produce a revolution” in the country’s economic development and raise per-capita income to the level of high-middle income economies by 2022, according to Finance Secretary Carlos Dominguez III. Dominguez said the combined effect Read More>>
  • Filipinos reaping benefits of PRRD eco reforms, says DOF exec

    Filipinos reaping benefits of PRRD eco reforms, says DOF exec

    The Duterte administration has carried out a slew of sweeping economic reforms over the past two years that previous political leaderships had failed to do and whose benefits are now being truly felt by the Filipino majority by way of lower poverty and hunger levels, more jobs and livelihood opportunities, and an economy that is Read More>>
  • Social mitigation measures in place vs inflation

    Social mitigation measures in place vs inflation

    The economic managers assured the public Tuesday that the government is fast-tracking the release of the unconditional cash transfers (UCTs) for the country’s poorest households, along with other social mitigation measures to stay ahead of the temporary elevated inflation rate. In Seoul, Finance Secretary Carlos Dominguez III said that he and the rest of the Read More>>
  • ID system, rice tariffs to complement TRAIN’s social mitigation measures

    ID system, rice tariffs to complement TRAIN’s social mitigation measures

    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>>
  • Higher domestic demand drives up inflation as Filipinos have P32 billion more to spend monthly

    Higher domestic demand drives up inflation as Filipinos have P32 billion more to spend monthly

    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>>
  • Gov’t has measures to ease impact of global oil prices, says DOF

    Gov’t has measures to ease impact of global oil prices, says DOF

    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>>
  • Hike in revenue collections enabled gov’t to spend sans deficit–Dominguez

    Hike in revenue collections enabled gov’t to spend sans deficit–Dominguez

    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>>
  • TRAIN not to blame for inflation

    TRAIN not to blame for inflation

    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>>