TRAIN 2 to scrap P11.2-billion energy sector’s tax incentives 161 SHARES Share it! Share TweetBy Myrna M. VelascoRoughly P11.2 billion worth of tax and import duty incentives for investments in the energy sector will be scrapped under the propounded package 2 of the Tax Reform for Acceleration and Inclusion (TRAIN) law of the Duterte administration. In a presentation to industry stakeholders that will be affected by the tax package, the Department of Finance (DOF) noted that this is part of the concerted effort of the government to rationalize tax incentives being granted to various businesses. Nevertheless, it is apparent now that the DOF has not exactly given up on such policy proposition, thus, chipping away this tax privilege is now being incorporated in the second tax package. Tags: Department of Finance, energy sector, National Grid Corporation, renewable energy, tax incentives, tax package, TRAIN 2 to scrap P11.2-billion energy sector’s tax incentives, Value-added tax, VAT zero rating

Source: Manila Bulletin March 18, 2018 14:01 UTC