Tax Reforms 2017

by Mary Grace Padin (The Philippine Star), Jun 10, 2018 MANILA, Philippines — A suspension of the Tax Reform for Acceleration and Inclusion (TRAIN) Law would ultimately increase the country’s debt burden, slowdown economic growth and exacerbate poverty, according to fiscal policy advocate Action for Economic Reforms (AER).

by Ian Nicolas Cigaral (philstar.com), Jun 5, 2018 MANILA, Philippines — President Rodrigo Duterte’s economic team on Tuesday warned against freezing the implementation of the tax reform law, saying such a move could stunt the Philippine economy’s growth amid strong calls to suspend the law that has been partly blamed for rising consumer prices.

Higher inflation, coupled with the forthcoming 2019 midterm election, has suddenly turned TRAIN into a political hot potato by JC Punongbayan, Rappler, Jun 3, 2018 In Part 1, I explained the international factors behind the recent rise in inflation: a surge in world oil prices (now at a 3-year high) and the weaker peso (now…

By: Peter Wallace – @inquirerdotnet Philippine Daily Inquirer, May 31, 2018 I’ve had some criticism, most of it very nasty, attacking me on my support for the Tax Reform for Acceleration and Inclusion (TRAIN) packages 1 and 2, but not arguing the issue and suggesting workable alternatives. This is the mark of a small mind…

by Malaya, May 31, 2018 Policy changes on the tax and incentive regime may prompt the call center industry to revise its forecasts at a time when this sector has been experiencing tempered growth.

AMID RISING FUEL PRICES By TED CORDERO, GMA News, May 30, 2018 Budget Secretary Benjamin Diokno on Wednesday said Filipinos should not be too complaining as revenue collected from reformed excise tax rates will be used for government services.

By Jerald Uy, CNN Philippines, May 30, 2018 Metro Manila (CNN Philippines, May 30) — The Tax Reform for Accelaration and Inclusion (TRAIN) Law should not ultimately be blamed for the rise of consumer prices, Finance Assistant Secretary Paola Alvarez asserted on Tuesday.

By Rea Cu, BusinessMirror, May 29, 2018 FILIPINOS 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 (TRAIN) law, the unconditional cash transfer program, the free tuition in state universities and colleges (SUCs), and the additional wages paid…

by Atty. Alex B. Cabrera (The Philippine Star), May 27, 2018 We all want our country and our government to succeed. There is just no one way to express it, and certainly, not just one frame of mind is required for that success.

by Richmond Mercurio (The Philippine Star), Apr 13, 2018 MANILA, Philippines — The Department of Finance (DOF) and the Philippine Economic Zone Authority (PEZA) are bound to clash as the latter vowed to fight for the retention of the current set of incentives it is offering investors amid ongoing moves to rationalize fiscal perks.

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by Gutierrez, Angelo, Mar 3, 2018 Manufacturers of canned sardines will ask the government for a price increase because of higher production costs due to the Tax Reform for Acceleration and Inclusion (TRAIN) Law.

by Roy Stephen C. Canivel, Inquirer, Feb 28, 2018 New investment pledges in the manufacturing sector plunged last year to almost 50 percent due to the uncertainty brought by the tax reform law, top officials of the Philippine Economic Zone Authority (PEZA) said on Wednesday.

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By: Ben O. de Vera – Reporter / @bendeveraINQ Philippine Daily Inquirer, Feb 23, 2018 The Bureau of Internal Revenue has released the implementing rules and regulations of the new personal income tax rates under the Tax Reform for Acceleration and Inclusion (TRAIN) Act.

Brace for more: DOF says TRAIN has yet to impact inflation Businesses’ compliance to higher taxes on cigarettes and not the impact of tax reform is the main factor for the big jump of Philippines’ inflation rate in January 2018 to 4 percent from 3.3 percent in December 2017.

by Ben O. de Vera, Inquirer, Jan 22, 2018 Even as the planned cut in corporate income tax rates will depend on the revenue gains of the second tax reform package, Finance Secretary Carlos G. Dominguez III expressed confidence that investors will understand the government’s thrust of balancing the grant of fiscal perks.

SMEs paying 30% tax while big firms pay close to nil, DOF says This is a huge issue which the government wants to correct. Too many laws providing tax incentives and benefits to companies have essentially exempted big corporations from paying taxes, while the small fry suffer with the whopping 30 percent duty, the Department…

by Rosette Adel (philstar.com) – Jan 18, 2018 MANILA, Philippines — Prices of basic commodities and goods are expected to increase this year after the Tax Reform for Acceleration and Inclusion Law was enacted last December 19.

By Rea Cu, Businessmirror, Jan 16, 2018 The Department of Finance (DOF) has formally submitted to the House of Representatives on Monday the second package of the Duterte administration’s Comprehensive Tax Reform Program (CTRP) that aims to reduce corporate income tax (CIT) rates and “modernize” fiscal incentives.

A total of 10 million families would benefit from the Unconditional Cash Transfer (UCT) scheme, says the Department of Social Welfare and Development by Patty Pasion, Rappler, Jan 15, 2018 MANILA, Philippines – This January, the Department of Social Welfare and Development (DSWD) is set to begin the release of a P200 cash subsidy for…

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By AC Nicholls, CNN Philippines, Jan 11, 2018 Philippines, January 11) — Anti-Poverty Chief Liza Maza said the tax reform law will make it difficult for around 21 million Filipinos living under the poverty line.

by ABS-CBN News, Jan 10, 2018 MANILA – Higher taxes on fuel will result in a “minimal” increase in commodity prices and P24.5 billion will be given to the poor to help them cope, President Rodrigo Duterte’s economic managers said Wednesday.

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Senate Minority Leader Franklin Drilon expects a difficult time in the bicameral conference committee due to polarizing provisions in the Senate and House versions by Camille Elemia, Rappler, Nov 28, 2017 MANILA, Philippines – The Senate approved on 3rd and final reading the first package of tax reforms proposed by the Duterte administration, seeking to…

By Richmond Mercurio (The Philippine Star), Jul 6, 2017 MANILA, Philippines – The residential market is likely to take a hit once the country’s tax reform plan as approved by the House of Representatives is implemented, real estate consultancy firm Colliers International Philippines warned.