At this time of the year, many are wondering what 2018 holds for the Philippine economy. Success in passing the tax reform –TRAIN (Tax Reform for Acceleration and Inclusion) – does wonders for the future growth of the economy. The 2017 tax reform law, however, falls short of its original revenue objectives. The tax reform law raises the overall fiscal capacity to finance public investments. With this tax reform, it will push upward toward 15 percent (still below the ambitious plan of raising it to 17 percent).

Source: Philippine Star December 19, 2017 16:07 UTC