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The TRAIN Law

The Tax Reform for Acceleration and Inclusion Law


(Republic Act No. 10963)

Before TRAIN Before TRAIN

Below Below 100% increase in rate,


Php 10,000 5% Php 250,000 0% except for:
Over
Php 500,000 32% Over
Php 8 M 35% Documentary stamp tax
- DST loans, from
Php 1.00 to Php 1.50
on various transactions per P200
Optional
On gross
8% - No increase on sale
of real property and
revenues for Documentary certain insurance
self-employed
below Php 3M
Stamp policies

Exclusions/deductions Exclusions/deductions
Personal exemption of No personal/additional 2% for up to Php 600,000 4% for up to Php 600,000
Php 50,000 and exemption
Php 25,000/dependent Php 12,000 + 20% of 10% for over Php 600,000 to
Tax-exempt bonus - Tax-exempt bonus - excess over Php 600,000 Php 1 M
Php 82,000 Php 90,000
Employees of RHQ, ROHQ, Employees of RHQ, ROHQ, Php 112,000 + 40% 20% for over Php 1 M
OBU, and Petroleum Service OBU, and Petroleum Service of excess over Php 1.1 M to Php 4 M
Contractors - 15% Contractors registered by
Jan. 1, 2018 - 15% Php 512,000 + 60% Automobiles 50% for over Php 4 M
Deadline for 1st quarter and
Individual Deadline for 1st quarter and
of excess over Php 2.1 M
Annual ITR - April 15 Income Annual ITR - May 15

Deadline for 2nd Installment Deadline for 2nd Installment Excise tax of Php 31.20 Php 32.50 - Jan. 2018
of annual Income Tax Due - of annual Income Tax Due - per pack Php 35.00 - Jan. 2019
July 15 Oct. 15 Php 37.50 - Jan. 2020
Php 40.00 - Jan. 2022
FBT rate - 32% FBT rate - 35%
4% annual increase 4% annual increase
Cigarettes
PCSO & Lotto winnings - PCSO & Lotto - taxable above
Excise tax of Php 10.00 Php 50.00 - 2018
exempt Php 10,000
per metric ton of coal Php 100.00 - 2019
Interest on FCDU deposits - Interest on FCDU deposits of Php 150.00 - 2020
7.5% individuals and domestic Various rates on other 100% increase in rate for other
corporations - 15% minerals minerals
CGT on unlisted shares -
5% or 10% CGT on unlisted shares sold Coal/Minerals
by individuals and domestic
Passive corporations - 15%
STT on listed shares - Income STT on listed shares - 5% on cosmetic procedures
0.50 of 1% NONE
0.60 of 1% for aesthetic reasons

Cosmetic
Php 6.00/liter Procedures
using caloric and
non-caloric sweetners Quarterly filing of withholding
NONE Monthly filing of withholding/
(except compensation and VAT)/
Php 12.00/liter percentage tax returns
percentage tax returns
using high-fructose corn syrup
Sweetened
Beverages
Tax Filing
Diesel
Php 2.50 - 2018 Threshold - Php 1,919,500 Threshold - Php 3 M
Diesel
Php 4.50 - 2019 Sale of medicines - 12% Sale of medicines for diabetes,
Php 0.00 per liter
Php 6.00 - 2020 high cholesterol, and hyper-
Unleaded and tension - VAT-exempt
Gasoline
premium gasoline Association dues - 12% Association dues - VAT-exempt
Php 7.00 - 2018
Php 4.35 per liter
Php 9.00 - 2019 Amortization of input VAT on Amortization of input VAT on
Fuels Php 10.00 - 2020 capital goods capital goods - repealed
by 2022
Transfer under Sec 40(c)(2) - Transfer under Sec 40(c)(2) -
12% VAT-exempt
Progressive rates A flat rate of 6%
of 5% to 20% VAT-exempt sale of residential VAT-exempt sale of
lot - not more than Php 1,919,200; residential lot - not more
Exemption of family home - Exemption of family home -
house and lot - not more than than Php 1.5 M;
Php 1 M Php 10 M
Php 3,199,200 Value-added house and lot - not more than
Standard deduction - Php 1 M Standard deduction - Php 5 M Tax Php 2.5 M
By 2021, only house and lot -
Deadline - within 6 months
Estate Deadline - within 1 year
not more than 2 M
Final withholding tax - none Final withholding tax on bank
withdrawals - 6% Sale of goods to PEZA - 0% Sale of goods to PEZA - 12%
upon implementation of
enhanced VAT refund system

0% to 15%
6% in excess of
30% on donations Php 250,000
to strangers Double the legal interest rate
20% per annum
per annum

Donations
Penalty
Interest

For questions and clarifications,


contact Lina Figueroa at lina.figueroa@ph.gt.com
or Des Politado-Aclan at des.politado-aclan@ph.gt.com