With prices of goods and services already rising due to the Tax Reform Acceleration and Inclusion (Train) Law and the looming passage of Train 2, a party-list lawmaker said Sunday that the country’s inflation rate would continue to rise. ADVERTISEMENTDespite the perceived effects of the tax reform law, President Rodrigo Duterte maintained a “very good” performance rating in the first quarter of 2018. The Train Law imposes higher excise taxes on fuel products, cars, tobacco, and sugar-sweetened beverages. The Comprehensive Tax Reform Program’s Package 2 or “Train 2” meanwhile, aims to gradually lower corporate income tax rate from 30 to 25 percent while modernizing incentives for companies. Now with Train 2, this gap would further widen,” he said,The lawmaker said there was a need to repeal or at least amend the “regressive and anti-people” provisions of the Train Law.

Source: Philippine Daily Inquirer April 15, 2018 03:22 UTC