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DOF thanks Angara committee for endorsing TRAIN for Senate OK

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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Non-taxpayers to also benefit from TRAIN

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

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Now is the time to invest in PHL, Dominguez tells US business leaders

Finance Secretary Carlos Dominguez III told American business leaders that now is the best time to invest in the Philippines, given its vibrant economic prospects anchored on an unprecedented infrastructure buildup on the Duterte watch. Dominguez said President Duterte’s “Build, Build, Build” program, which is a capital-intensive undertaking to be partly funded by the administration’s Read More

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PPSTA head backs TRAIN

The president of the Philippine Public School Teachers Association (PPSTA) has given his full backing to the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN), which he views as a “beneficial” tool that will uplift not only the economic status of its members, but their dignity and morale as well. In a statement, PPSTA Read More

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More pro-health groups back fuel excise tax adjustments in TRAIN

Two more health advocacy groups have joined the snowballing clamor to adjust the excise taxes on fuel under the proposed Tax Reform for Acceleration and Inclusion (TRAIN) Act to squarely address the worsening air pollution in cities and help mitigate the devastating impact of global warming on the environment. In two separate positions papers, the Read More

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The country’s governors, councilors support TRAIN

Two of the country’s national organizations of local government executives have separately expressed their full support for the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) on the belief that it will make the tax system more “equitable, progressive and efficient” while raising more funds for infrastructure development and social services outside Metro Manila. Read More

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IC backs insurance sector-friendly TRAIN

The Insurance Commission (IC) is supporting the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) as this would make the system more financially inclusive and provide insurers the opportunity to cash in on the massive infrastructure buildup of the Duterte administration that will be partly funded by this tax reform package. IC Commissioner Dennis Read More

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Dominguez cites biz community support for tax reform

Finance Secretary Carlos Dominguez III has cited the strong support of the American business community for the first package of the Comprehensive Tax Reform Program (CTRP), which, he said, was submitted by the Duterte administration to the Congress for its approval as a way to help the government maintain fiscal stability, fund its ambitious infrastructure Read More

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Automotive industry to benefit from TRAIN

Contrary to claims that the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) will hurt the local automotive industry, the Department of Transportation (DOTr) said the bill will even benefit vehicle and car parts manufacturers given the projected high demand for alternative public utility vehicles under the jeep modernization program outlined in the tax Read More

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Pro-poor SSB tax gains wider support

Assorted institutions have expressed their support for the proposed tax on sugar-sweetened beverages (SSBs), which its main proponent in the Congress has described as a pro-poor measure meant to curve consumption and thus help check the alarming rise in obesity cases among Filipino kids and adults alike. Nueva Ecija Rep. Estrellita Suansing, the primary proponent Read More

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