Duterte: No stopping TRAIN law

Manila in the Philippines - President Rodrigo Duterte once again emphasizes the need for a comprehensive tax reform plan and accelerated and comprehensive tax reform (TRAIN) law can not be stopped

At the third country's address (SONA) on Monday, July 23, Duterte continued to applaud the train law "was in time."

"Some people mistakenly attributed our efforts to a more equitable tax system whose price rose over the past few months Some people recommend irresponsibly discontinue the implementation of TRAIN Realize sustainable development and not to retreat Filipinos, "the president said.

He asked the legislators to go through the second set of TRAIN in 2018 and expressed hope of signing by the end of the year.

Option 2 aims to streamline or cancel certain tax benefits for the company and to reduce corporate income tax from 30% to 25%. Treasury Department (DOF) proposes a targeted, time-limited and transparent incentive based on performance

The corporate group previously warned that revoking incentives would frighten potential foreign investors

Duterte also called for reform of mining taxes and further increased taxes on alcohol and tobacco.

Despite the controversy over the train, President Duttere revealed that the government does not support the law, it can not be abolished. Construction project), but also to establish a fair taxation system in the Philippines. With JuanTax you do not have to torture because of headache or confusion about TRAIN. Our tax software provides the correct tax form based on business details and tax type, as required by the TRAIN Act. Still, all you have to do is generate a report and submit these tax returns. We also have a chat support team that can guide you through the archiving process!

December 19, 2017, Pres. Rodrigo Duterte signed Law No. 10963 of the Republic Act or Accelerated Tax Reform or the Railway Act. It will raise the tax rate of other goods and services, while providing a reduction in the income tax rate to raise the paid wages of Filipinos paid.

Dutelte's train law is an insult to the working class and the poorest 21 million households in the country. Government propaganda facilitates living in middle class and middle class by raising real wage but that law aims to hand over the burden of earning government income for the commercial infrastructure project to the poor . Indeed, the wealthiest minorities will be awarded a total of 644 billion VND from the reduced personal income tax and uniform real estate tax and contribution tax. The government's income losses will be paid by the middle and low income brackets due to the value added tax, the consumption tax of petroleum products, and the additional taxation of sugar beverages and cars, which is equivalent to P1.743 trillion.