Voting separately, the Senate and the House of Representatives adopted late Wednesday the bicameral conference committee report on the tax reform measure also known as the Tax Reform for Acceleration and Inclusion (Train) bill. For diesel fuel, a P2.50 tax would be imposed starting 2018, P4.50 in 2019, and P6 in 2020. Raise the excise tax on automobiles. Increase the coal excise tax from P10 to per metric ton to P 50 per metric ton in the first year of implementation; P100 in the second year, and P150 in the third and succeeding years. The higher tax on tobacco was not contained in the original proposal but it was inserted during the bicameral conference committee meetings.

Source: Philippine Daily Inquirer December 13, 2017 15:25 UTC