MANILA, Philippines — The tax increase on petrol products due to the Tax Reform for Acceleration and Inclusion law may have a "domino effect" and lead to higher prices of basic goods and services, Sen. Paolo Benigno "Bam" Aquino warned on Wednesday. "The projected rise in the prices of goods and services is worrying. "In the end, poor Filipinos will shoulder and suffer from the effects of TRAIN on the prices of goods and services," Aquino said. "The government must speed up the implementation of the cash transfer program so poor people won't be burdened by the increase in prices," said Aquino. The group said that the new tax measure's increased income tax exemption would benefit only a portion of the middle class and affluent people as minimum wage earners had not been paying the said tax since 2008.
Source: Philippine Star January 03, 2018 12:45 UTC