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Dominguez says ​TRAIN to address income inequality, ​allot P25-B cash transfers to 10-M poorest households​

Finance Secretary Carlos Dominguez III has asserted that​ the Tax Reform for Acceleration and Inclusion Act (TRAIN) would be the first time the government had pushed a tax reform package not in response to a financial crisis or an​ external conditions imposed by other institutions, but to ​instead ​strengthen its ​programs meant ​to ​attack​ poverty Read More

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Former DOF execs ask Senate to preserve TRAIN’s original revenue goal

Former high-ranking officials of the Department of Finance (DOF) have appealed to the Senate to preserve the revenue requirements under the Duterte administration’s Tax Reform for Acceleration and Inclusion Act (TRAIN) that are intended to support the government’s massive investment program for high and inclusive growth. Ex-DOF Secretary Roberto de Ocampo, a member of the Read More

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AmCham joins biz community support for tax reform

The American Chamber of Commerce of the Philippines (AmCham) has joined the long list of prominent organizations from various sectors that have expressed their support for the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN), saying that it passes its criteria of being highly progressive, consumption-based, and providing incentives for people to work, save Read More

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TRAIN needed for PHL to join elite club of high-income economies

Finance Secretary Carlos Dominguez III said Thursday night the Philippines has reached the “make-or-break point” in its economic emergence, with the Comprehensive Tax Reform Program (CTRP) being pushed by the Duterte administration in the Congress setting the stage for the country to join the elite club of the world’s fast-growing, high-income economies one generation from Read More

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DOF hopeful on TRAIN implementation by January 1 next year

Exactly one year this week after the Department of Finance (DOF) formally submitted to the Congress the first package of the Duterte administration’s Comprehensive Tax Reform Program (CTRP) that aims to make the current tax system simpler, fairer and more efficient, the DOF is now moving closer to having the game-changing proposal approved with the Read More

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TRAIN to benefit 99 percent of Filipino families

The Department of Finance (DOF) has maintained that the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) will benefit 99 percent of Filipino households because of its proposed income tax cuts for salaried workers plus the unconditional cash transfers for the country’s poorest families. Also, fears over the supposedly adverse impact of the proposed 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