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(Eagle News) — The Senate is studying and strictly monitoring the increase in the prices of basic goods due to the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law. Senator Sherwin Gatchalian, the chair of the Senate Committee on Energy, said that if the increase in the prices of basic goods will continue, the Senate will look for ways to minimize the effect of the additional excise tax. Gatchalian said that the […]
Spike in prices only “transitory,” he says (Eagle News) – Budget Secretary Benjamin Diokno said Wednesday, May 9, that suspending the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law “will do more harm than good.” His statement came a day after Senators JV Ejercito and Bam Aquino called on government economic managers to suspend the law amid reports of a spike in inflation rate—4.5 percent in April— reportedly the fastest in more than […]
(Eagle News) — Rep. Gary Alejano has filed a resolution seeking for a review of the Tax Reform for Acceleration and Inclusion law. In filing House Resolution 1838, Alejano said “almost all Filipinos, 98 percent, feel the increase in prices, especially in food and beverages..” following the implementation of the law. Like Senator JV Ejercito, Alejano also noted the increase in the inflation rate, which he said was at 4.5 percent. He said this was […]
(Eagle News) – Senator JV Ejercito on Tuesday, May 8, called on government economic managers to suspend the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law to arrest what he said was a rising inflation rate. “It might be wise to consider a suspension of the TRAIN law if the trend continues to breach the inflation threshold,” Ejercito said in a statement, following what he said were reports the headline inflation rate accelerated […]
MANILA, Philippines (Eagle News) — The Department of Trade and Industry (DTI) confirmed that prices of school supplies have increased. In an interview with Net 25’s, Usapang Pagbabago, DTI Undersecretary Atty. Ruth Castelo explained that the price rise was due to the increase on the prices of raw materials for pad papers and other school supplies. She said that they will ask the paper manufacturers in the country not to apply the increase in the […]
(Eagle News) – The Department of Finance (DOF) said Filipino consumers now have a combined “P10 billion monthly cash bonanza” following the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) Act. According to Finance Secretary Carlos Dominguez III, the amount represents additional purchasing power that will further stimulate the country’s economy, which is now among the fastest-growing in Southeast Asia. “Our estimate is P10 billion a month in the reduction in collections from the […]
(Eagle News) – The Department of Social Welfare and Development has started distributing the P2,400 per year subsidy to millions of poor families in the country who were affected by the implementation of the Tax Reform Acceleration and Inclusion (TRAIN) program. The unconditional cash transfer (UCT) funds of P200 per month or P2,400 yearly subsidy was first given to 1.8 million households who are already holding cash cards under the UCT or the Pantawid […]
QUEZON CITY, Philippines (Eagle News) — Pinag-aaralan na ng gobyerno at grupo ng mga manggagawa ang pagbibigay ng 500 pesos na buwanang subsidy sa mga manggagawang sumasahod ng minimum wage. Ayon sa Associated Labor Unions-Trade Union Congress of the Philippines (ALU-TUCP), sapul ng TRAIN law ang mga sumusweldo ng minimum dahil hindi naman ito kasama sa mga nadagdagan ang take home pay. Kasabay ng paggalaw ng presyo ay bumaba naman ang purchasing power ng maraming […]
MANILA, Philippines (Eagle News) — Hinamon ni Pangulong Rodrigo Duterte ang mga kritiko ng Tax Reform Acceleration and Inclusion (TRAIN) law. Ito ay matapos na maipaabot sa Pangulo ang patuloy pa ring pagkontra ng ilang grupo sa TRAIN law na nagdulot ng pagtaas ng presyo sa ilang pangunahing bilihin. Sinabi ng Pangulo na huwag na lamang magbayad ng buwis ang mga taong tutol sa pag-iral ng train. Ngunit dapat aniyang maging handa sakaling habulin naman […]
(Eagle News) — The Philippine government should put in place “mitigation measures to cushion the transitory inflationary impact of the Tax Reform for Acceleration and Inclusion (TRAIN) law,” according to the National Economic and Development Authority (NEDA). This was following “recorded increases in the country’s inflation rate” this January 2018 when inflation rose to an “annualized 4 percent” — the highest since the 4.3 percent inflation posted in October 2014. NEDA, on Tuesday, February […]
QUEZON CITY, Philippines (Eagle News) — Meralco is set to implement an increase on its charges due to the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law and also in the face of the weakening peso against dollar. Meralco said that the increase may possibly hit P0.92 centavos per kilowatt/hour. Meralco explained that the increase includes the new tax to be imposed on transmission charges due to the tax reform package. […]
Ni Rox Montallana Eagle News Correspondent PUERTO PRINCESA CITY, Palawan (Eagle News) – Nagbigay ng babala ang pamunuan ng Department of Trade and Industry (DTI) sa mga lalabag sa umiiral na Republic Act No. 7581 o The Price Act. Ang mga mahuhuling lalabag sa nasabing batas ay maaaring pagmultahin ng hindi hihigit sa dalawang milyong piso o pagpataw ng kasong kriminal na may pagkakakulong na lima (5) hanggang labing limang (15) taon. Ayon kay DTI […]
