Tag: TRAIN law

Lower income tax rates expected starting next year due to TRAIN law: BIR

(Eagle News)–The Bureau of Internal Revenue on Friday, December 23, said individual taxpayers will be charged lower income taxes starting next year. According to the BIR, because of the lower income tax rate pursuant to Republic Act 10963, or the Tax Reform for Acceleration and Inclusion (TRAIN) Law, individuals earning purely compensation income, including non-business/non-profession related income and sole proprietors, “can look forward to a higher take-home pay in 2023.” It said starting January 1, […]

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DOF says P147 billion expected to be collected this year from taxes on fuel

Claims suspending fuel excise tax would largely benefit the rich   (Eagle News) – Finance Secretary Carlos Dominguez III said that the government expects to collect P147 billion in taxes this year from fuel, particularly P131.4 billion in excise taxes and P15.8 billion in VAT or value added tax. The funds to be generated from these taxes would be used for the government’s ‘Build, Build, Build” projects, and for the salaries of government employees, including […]

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Pamasahe sa PNR, planong itaas ngayong taon

(Eagle News) — Pinag-aaralan ng Philippine National Railways (PNR) ang posibilidad ng pagpapatupad ng taas-pasahe para sa taong ito. Ito ay upang matugunan ang gastos sa kanilang operasyon at maintenance na epekto ng ikalawang bugso ng excise tax sa ilalim ng TRAIN law. Ayon kay PNR General Manager Jun Magno, mayroon nang nabuong fare matrix ang kanilang planning team. https://youtu.be/YDd4ET34HyE

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Senator Aquino hails temporary suspension of excise tax on fuel products next year

(Eagle News) — Senator Bam Aquino on Wednesday, Nov. 14,  hailed the temporary suspension of excise tax on fuel products next year. “Nagpapasalamat tayo sa Presidente at sa kanyang economic managers sa pag-aksyon sa isyu na matagal nang daing ng mga pamilyang nahihirapan sa taas ng presyo ng bilihin,” Aquino said. Aquino expressed hope the temporary suspension would eventually lead to the junking overall of taxes imposed by the Tax Reform on Acceleration and Inclusion […]

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DOF: 40% lamang ng PUJ drivers ang nabigyan ng fuel subsidy

(Eagle News) — Umaabot lamang sa 40 percent ng beneficiaries ng pantawid pasada program ng pamahalaan ang nabigyan ng P5,000 fuel subsidy kaugnay sa epekto ng Tax Reform for Acceleration for Inclusion (TRAIN) law. Ayon kay Finance Usec. Karl Kendrick Chua, sa kanilang tala noong Oktubre 22 ay umaabot lamang sa 56,154 jeepney franchise holders mula sa kabuuang 142,000 ang nakinabang sa nasabing programa. Ipinaliwanag ng opisyal na documentation ang siyang pangunahing dahilan kung bakit […]

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President Duterte has decided to temporarily suspend 2nd tranche of excise tax on fuel, says Bong Go

(Eagle News) – President Rodrigo Duterte has decided to temporarily suspend the implementation of the additional fuel excise tax to “arrest the rising price of oil” and to tame inflation, according to Special Assistant to the President Christopher “Bong” Go. In his speech at the opening of the TienDA Malasakit Store in Taguig City on Sunday, October 14, Go said that the temporary suspension of the second tranche of the fuel excise tax would be […]

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Transport strike ng Piston at iba pang grupo, aarangkada na ngayong araw

(Eagle News) — Magsasagawa ng transport strike ang ilang transport groups ngayong araw, Hunyo 25 upang iprotesta ang jeepney phase-out na plano ng gobyerno at maging ang mataas na presyo ng langis dulot ng Tax Reform Acceleration and Inclusion (TRAIN) law. Hinimok ng Pinagkaisang Samahan ng mga Tsuper at Operator Nationwide (piston) at ng No to Jeepney Phase Out Coalition (NTJPOC) ang iba pang public transport operators, tsuper at mga concerned citizens na lumahok sa […]

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BSP says PHL inflation outlook remains a “concern”; some senators call for release of subsidies to cushion TRAIN effects

By Meanne Corvera Eagle News Service The Bangko Sentral ng Pilipinas on Tuesday, June 5, said the country’s inflation outlook “continues to be a concern and requires close attention.” This even if BSP Governor Nestor Espenilla said that while the average inflation of 4.1 percent in the first five months of the year was still above the BSP’s 2 to 4 percent target for the year, it was “maybe not going to be as bad as […]

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Poe asks DOF: Where are vouchers, subsidies for drivers affected by TRAIN law?

(Eagle News) — Senator Grace Poe on Friday, June 1, said the government should be giving subsidies to  drivers who were affected by the increase in prices of gasoline. “May mga safeguards diyan katulad ng pagbibigay ng umento at vouchers din sa ating mga drivers para sa gasoline. So nais nating tanungin ang DOF, ano ba ang mga ginagawa nila para matulungan ang mga drivers?” Poe asked. “Masasabi ko sa DOF, ‘nasaan na ang pinangako […]

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DOE to recommend suspension of excise tax on fuel if average per barrel price reaches $80 for three straight months

(Eagle News)–The Department of Energy on Saturday, May 26, said it would recommend the suspension of excise tax on fuel if its price reaches $80 per barrel for three consecutive months. Energy Undersecretary Donato Marcos said in a radio dzbb interview that the recommendation, should it push through, would be given to the Department of Finance. In the meantime, he said they were monitoring gasoline stations, and were now requiring them to give a detailed […]

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Mga negosyanteng nagsasasamantala sa TRAIN law, binalaan ng Malacañang

(Eagle News) – Nagbabala ang Malacañang sa mga negosyante na nagsasamantala gamit ang Tax Reform and Inclusion o TRAIN law. Sinabi ni Presidential Spokesman Harry Roque na maaaring managot sa batas ang mga tiwaling negosyante sa bansa. Ginawa ni Roque ang pahayag dahil sa reklamo ng taumbayan sa taas ng mga bilihin. Ayon kay Roque totoong may epekto sa presyo ng mga bilihin ang TRAIN law dahil sa kaakibat na excise tax. Inihayag ni Roque […]

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Senate public services panel to hold hearing on effects of TRAIN law in Iloilo on Friday, May 25

(Eagle News) — Senator Grace Poe on Thursday, May 24, said she and her colleagues in the committee on public services would hold a hearing on the “domino effect” of the Tax Reform for Acceleration and Inclusion law in Iloilo on Friday, May 25. “Kailangang isipin natin kung paano mapagagaan ang buhay ng ating mga kababayan lalo na sa probinsya dahil sa pagmahal ng kuryente, tubig at bilihin at ang nakaambang pagtaas ng pamasahe,” Poe […]

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