A tax expert and adviser of the Department of Finance on Wednesday urged senators to fast-track the passage of Senate Bill (SB) 1408 or The Tax Reform for Acceleration and Inclusion Act (Train) Bill because it is needed in the ‘Build Build Build’ flagship program of the Duterte administration. When asked about those to be affected by the tax reform package, he identified companies engaged in oil, car and soft-drink making. To finance the ‘Build Build Build’ projects, Diaz said, the government could not just rely on official development assistance or ODA and loans from countries like China and Japan, among others. ‘Build Build Build’ projects are mostly transport programs that will entail building railway systems, additional roads and ports. Diaz urged people who are hooked on social media to visit the Facebook account of the Department of Finance where the Duterte tax reform package is explained in detail.

Source: Manila Times July 05, 2017 13:30 UTC