Finance Secretary Benjamin E. Diokno welcomed the decision of the Supreme Court affirming the constitutionality of the Tax Reform for Acceleration and Inclusion (TRAIN) Act amid petitions claiming the law to be “anti-poor” and unlawful. The Supreme Court dismissed the petitioners’...
Senator Sherwin Gatchalian on Monday, January 16 assured that middle income taxpayers can expect a higher take-home pay starting this year due to the Tax Reform for Acceleration and Inclusion (TRAIN) Law. Under the TRAIN law, taxpayers earning more than P250,000 a year but not over P8-million wold...
Economist-solon Albay 2nd district Rep. Joey Salceda says he is proud of the part he played in enacting the Tax Reform for Acceleration and Inclusion (TRAIN) Law, which has placed more cash in the pockets of Filipinos who relatively earn less. (Mari Gimenez/ Unsplash) Salceda, chairman of the House...
Here's some good news to start the year 2023. (MANILA BULLETIN) Albay 2nd district Rep. Joey Salceda reminded Filipinos on Saturday, Dec. 31 that half a month's worth of salary awaits them as part of the windfall from the Tax Reform for Acceleration and Inclusion or TRAIN Law. “A 13.5th month...
Individual taxpayers will get income tax breaks next year, providing Filipino consumers additional purchasing power, but would result in billions of foregone government revenues. This is because the second tranche reduction in personal income tax as mandated under the Tax Reform for Acceleration...
A member of the Makabayan bloc in the House of Representatives wants Malacañang to certify as “urgent” the proposed measures that will help curb the impact of spiraling oil prices. (Photo by Mark Balmores/MANILA BULLETIN) House Deputy Minority Leader and ACT Teachers Party-list Rep. France...
Senator Sonny Angara said the middle class will experience some relief next year through income tax deduction. “Yes. Next year there would be tax relief. Under the TRAIN law, there would be another income tax reduction,” Angara said during an interview at the sidelines of the 20th...
Human rights lawyer Chel Diokno is proposing an excise tax freeze on petroleum products in view of the soaring fuel prices that resulted from the Russia-Ukraine crisis. Human rights lawyer Chel Diokno (Photo from Diokno’s campaign team) Diokno, a senatorial aspirant, cited the law allowing the...
Senate Minority Leader Franklin Drilon on Tuesday reminded that the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) has the prerogative to suspend the collection of fuel excise taxes under the Tax Reform for Acceleration and Inclusion (TRAIN) law to cushion the impact of the...
PASAHERO Party-list has added its voice to the growing clamor of stakeholders who want to suspend excise tax on oil products amid concerns that local pump prices would continue to climb in the coming weeks. (File photo/ MANILA BULLETIN) According to Allan Yap, the party-list's founder, the proposed...
House Speaker Lord Allan Velasco and Senate President Vicente "Tito" Sotto lll should recommend to Malacañang the conduct of special sessions in Congress to approve bills that would suspend excise taxes on fuel, the prices of which have been skyrocketing as of late. House Speaker Lord Allan...
House Deputy Speaker Mikee Romero claimed that the Department of Finance (DOF) can't block the proposed suspension of oil taxes, which he said would give Filipino consumers much-needed relief by way of fuel price cuts. (File photo/ MANILA BULLETIN) Romero, in a statement Wednesday, Feb. 23,...
