Tag: TRAIN law

Finance department fine-tuning package 2 of gov’t’s tax-reform program

  The Department of Finance (DOF) is now fine-tuning certain aspects of Package 2 Plus of the Duterte administration’s Comprehensive Tax Reform Program (CTRP), including adjustments covering excise taxes on tobacco products, to make sure that the proposal it submits to Congress is “solid, well-consulted and well-researched.” Finance Undersecretary Karl Kendrick Chua said some aspects of Package 2 Plus on the removal of the value-added tax (VAT) exemptions for coal and casino operations have already […]

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Hontiveros proposes “Bawas VAT” bill

QUEZON CITY, Philippines (Eagle News) — Senator Risa Hontiveros filed a bill that will alleviate the negative effects of the Tax Reform for Acceleration and Inclusion (TRAIN) law on the prices of goods. Hontiveros said that the proposed Senate Bill 1671 or “Bawas VAT” bill will lower the value-added tax to 10% on January 1, 2019 and will eventually reach 8% by January 1, 2022. “After the recent passage of the Tax Reform for Acceleration […]

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Magandang epekto ng TRAIN law sa mga empleyado, mararamdaman na sa Enero 15 – BIR

(Eagle News) — Mararamdaman na sa Lunes, Enero 15, ang magandang epekto umano ng Tax Reform for Acceleration and Inclusion (TRAIN) sa mga empleyado ng gobyerno at ng mga pribadong kumpanya. Ito ang tiniyak ng Bureau of Internal Revenue (BIR) matapos ipag-utos sa ilalim ng TRAIN ang pagbaba ng  personal income tax ng mga ito. Ayon kay BIR assistant commissioner Marissa Cabreros, zero o wala nang tax na ikakaltas sa mga sumusuweldo ng Php 20,000 […]

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Lawmakers ask energy dep’t to strictly monitor oil price increases before TRAIN implementation

QUEZON CITY, Philippines (Eagle News) — Several lawmakers asked the Department of Energy (DOE) and other government agencies to be vigilant and monitor oil companies that implemented price increases before the implementation date provided in the Tax Reform law. On January 1, fuel prices increased due to global supply concerns and not because of the Tax Reform for Acceleration and Inclusion (TRAIN) Law. Eastern Samar Representative Ben Evardone asked the DOE and its task force […]

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LTFRB clarifies: no increase in minimum fare for jeepneys yet

QUEZON CITY, Philippines (Eagle News) — The Land Transportation Franchising and Regulatory Board (LTFRB) clarified that there is no increase yet in the minimum fare for public utility jeepneys (PUJ) This is despite the call of several transport groups to increase the PUJ’s minimum fare to Php 12 with the passage of the tax reform law. LTFRB spokesperson Atty. Eileen Lizada said that all increases in fare should follow the process because this will affect […]

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