Press Releases
Board’s up close and personal about Train law

To have full understanding on the importance and possible implications of the Tax Reform for Acceleration and Inclusion (TRAIN) Law which took effect at the start of 2018, the Department of Finance (DOF) through its National Tax Research Center (NTRC) took time in explaining to the Board the salient features and rationale of the recent tax reforms in the country during the Board’s meeting held last 13 February 2018 at D’ Circle Hotel Malate, Manila.

According to DOF-NTRC Executive Director Trinidad A. Rodriguez, the new tax reforms will provide substantial income tax cuts for majority of Filipino taxpayers while raising additional funds to help support the government’s accelerated spending on its “Build, Build, Build” and social services programs.

The tax reform package corrects a longstanding inequity of the tax system by reducing personal income taxes for 99 percent of taxpayers, thereby giving them the much needed relief after more than two decades of non-adjustment of the tax rates and brackets. DOF is very optimistic that all these reforms will result in more and better/quality jobs, reasonable prices, and a brighter future for every Filipino. END / Kim Lagcao / IMSD-LCO-2018-02 / PRF18-17

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2018-02-20
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