The TRAIN law is the first package of the administration’s much-awaited Comprehensive Tax Reform Program. In that regard, is the TRAIN law really a boon or a bane for both rich and poor Filipinos? Meanwhile, those earning above P8 million annually will be slapped with 35 percent personal income tax, higher than the current 30 percent. “The bigger bonus are the ease-in-tax payment provisions from slushing the 12-page income tax return (ITR) to 2-page ITR to simplified bookkeeping requirements among others,” he added. But over the long-term, he said the TRAIN law should temper inflation as more infrastructures will be built.

Source: Philippine Star December 22, 2017 09:11 UTC