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(Note: For those who are excited to get to the Train Law PDF Download, simply
scroll to the bottom of this post.)
On December 19, 2017, President Rodrigo Duterte signed Republic Act No. 10963,
otherwise known as the Tax Reform for Acceleration and Inclusion (TRAIN) Act
into law, the �rst tranche of the Comprehensive Tax Reform Program in
Malacanang.
The TRAIN aims to provide signi�cant income tax cuts for majority of Filipino
taxpayers and at the same time raise additional funds to �nance the government’s
accelerated spending on its “Build, Build, Build” and social services programs.
The TRAIN Law will raise a hefty amount of revenue that will support the
President’s priority social and infrastructure programs, which will help realize his
administration’s goal of reducing the poverty rate from 21.6 to 14% by 2022.
About 70% of the incremental revenues will be used to fund the infrastructure
modernization program of the government, while the balance will go to social
services.
The government seeks the people’s support and understanding of this tax reform
act, and would like to assure all citizens of the Philippines that the Train Law
should result to a brighter future for every Filipino.
Download the complete PDF version of the Train law by clicking the button below:
(https://www.dof.gov.ph/?wpdmdl=20619)
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