Republic of the Philippines

Laguna State Polytechnic University

Province of Laguna

Rhonamae A. Calingasan Mr.Ayala

2BAFM3
1. What is strategic management
 Strategic management is the continuous planning, monitoring, analysis and assessment
of all that is necessary for an organization to meet its goals and objectives.
 The strategic management process helps company leaders assess their company's
present situation, chalk out strategies, deploy them and analyze the effectiveness of the
implemented strategies.
 Strategic management is a continuous process of strategic analysis, strategy creation,
implementation and monitoring, used by organizations with the purpose to achieve and
maintain a competitive advantage.

2. What is the Advantages of Strategic Management

 Discharges Board Responsibility -The first reason that most organizations state for
having a strategic management process is that it discharges the responsibility of the
Board of Directors.
 Provides a Framework For Decision-Making- Strategy provides a framework within
which all staff can make day-to-day operational decisions and understand that those
decisions are all moving the organization in a single direction.
 Supports Understanding & Buy-In-Allowing the board and staff participation in the
strategic discussion enables them to better understand the direction, why that direction
was chosen, and the associated benefits.
 Enables Measurement of Progress-A strategic management process forces an
organization to set objectives and measures of success.
 Provides an Organizational Perspective-Addressing operational issues rarely looks at
the whole organization and the interrelatedness of its varying components

3. What is the essence, objective or Important of Strategic Management

 It guides the company to move in a specific direction. It defines organization’s goals and
fixes realistic objectives, which are in alignment with the company’s vision.
 It assists the firm in becoming proactive, rather than reactive, to make it analyse the
actions of the competitors and take necessary steps to compete in the market, instead of
becoming spectators.
 It acts as a foundation for all key decisions of the firm.
 It attempts to prepare the organization for future challenges and play the role of pioneer
in exploring opportunities and also helps in identifying ways to reach those opportunities.
 It ensures the long-term survival of the firm while coping with competition and surviving
the dynamic environment.
 It assists in the development of core competencies and competitive advantage, that
helps in the business survival and growth.
 No. of Issuance Subject Matter Date of Issue
RR No. 1-2018 Provides the revised tax rates on Mineral Products pursuant to the provisions of RA No. 10963 January 15, 2018
(TRAIN Law), amending for the purpose Revenue Regulations No. 13-94
(Published in Manila Bulletin on January 18, 2018)
Digest | Full Text

RR No. 2-2018 Provides the revised tax rates and other implementing guidelines on Petroleum January 24, 2018
Products pursuant to the provisions of RA No. 10963 (TRAIN Law)
(Published in Manila Bulletin on January 26, 2018)
Digest | Full Text | Annex A
RR No. 3-2018 Provides the revised tax rates on Tobacco Products pursuant to the provisions of RA No. 10963 January 15, 2018
(TRAIN Law), amending for the purpose Revenue Regulations No. 17-2012
(Published in Manila Bulletin on January 18, 2018)
Digest | Full Text
RR No. 4-2018 Provides the rules and regulations implementing the Documentary Stamp Tax rate adjustment under January 15, 2018
RA No. 10963 (TRAIN Law)
(Published in Manila Bulletin on January 18, 2018)
Digest | Full Text
RR No. 5-2018 Implements the adjustment of rates on Excise Tax on Automobiles pursuant to the provisions of RA January 15, 2018
No. 10963 (TRAIN Law), amending for the purpose Revenue Regulations No. 25-2003
(Published in Manila Bulletin on January 18, 2018)
Digest | Full Text
RR No. 6-2018 Revokes Revenue Regulations (RR) No. 12-2013 relative to the requirements for deductibility of January 19, 2018
certain expenses, thereby reinstating the provisions of Section 2.58.5 of RR No. 14-2002, as
amended by RR No. 17-2003
(Published in Manila Bulletin on January 23, 2018)
Digest | Full Text
RR No. 7-2018 Amends certain sections of Revenue Regulations (RR) No. 12-99, as amended by RR No. 18-13, January 31, 2018
relative to the due process requirement in the issuance of a deficiency tax assessment.
(Published in Manila Bulletin on February 1, 2018)
Digest | Full Text
RR No. 8-2018 Implements the amended provisions on Income Tax pursuant to RA No. 10963 (TRAIN Law) February 20, 2018
(Published in Manila Bulletin on February 22, 2018)
Digest | Full Text
RR No. 9-2018 Prescribes the rules and regulations implementing the increase in the Stock Transfer Tax pursuant to February 26, 2018
RA No. 10963 (TRAIN Law)
(Published in Manila Bulletin on February 28, 2018)
Digest | Full Text
RR No. 10-2018 Amends Section 10 of RR No. 10-2010 (Exchange of Information Regulations) March 8, 2018
(Published in Manila Bulletin on March 9, 2018)
Digest | Full Text
RR No. 11-2018 Amends certain provisions of RR No. 2-98, as amended, to implement further March 15, 2018
amendments introduced by RA No. 10963 (TRAIN Law) relative to withholding of
Income Tax
(Published in Manila Bulletin on March 19, 2018)
Digest | Full Text | Annex A | Annex B-1 | Annex B-2 | Annex B-3 | Annex
C | Annex D | Annex E | Annex F
RR No. 12-2018 Consolidates Revenue Regulations on Estate Tax and Donor's Tax incorporating the March 15, 2018
amendments introduced by RA No. 10963 (TRAIN Law)
(Published in Manila Bulletin on March 19, 2018)
Digest | Full Text
RR No. 13-2018 Prescribes the Regulations implementing the Value-Added Tax (VAT) provisions March 15, 2018
under RA No. 10963 (TRAIN Law), which further amends RR No. 16-2005
(Consolidated VAT Regulations of 2005), as amended
 (Published in Manila Bulletin on March 19, 2018)
Digest | Full Text
RR No. 14-2018 Amends the provisions of RR No. 11-2018, particularly Sections 2 and 14 relative to withholding of April 5, 2018
Income Tax
(Published in Manila Bulletin on April 7, 2018)
Digest | Full Text
RR No. 15-2018 Amends RR No. 8-2018 particularly on the due date for the updating of registration from VAT to April 5, 2018
Non-VAT
(Published in Manila Bulletin on April 7, 2018)
Digest | Full Text
RR No. 16-2018 Amends Revenue Regulations No. 10-2015, as amended, on the use of non-thermal paper for all May 25, 2018
Cash Register Machines (CRMs)/Point-of-Sales (POS) machines and other invoice/receipt
generating machine/software
(Published in Manila Bulletin on May 28, 2018)
Digest | Full Text
RR No. 17-2018 Amends Section 13 of Revenue Regulations No. 12-2018 particularly on the valuation of gifts made July 30, 2018
in property
(Published in Manila Bulletin on August 1, 2018)
Digest | Full Text
RR No. 18-2018 Amends specific provisions of RR No. 8-2016 particularly certain guidelines on the processing of August 3, 2018
applications for Tax Clearance for bidding purposes
(Published in Manila Bulletin on August 6, 2018)
Digest | Full Text
RR No. 19-2018 Amends RR No. 13-2018 particularly on the use of invoices/receipts of previously-registered VAT August 9, 2018
taxpayers who are now non-VAT taxpayers
(Published in Manila Bulletin on August 13, 2018)
Digest | Full Text
RR No. 20-2018 Provides the implementing rules and guidelines on the imposition of Excise Tax on sweetened August 22, 2018
beverages pursuant to the provisions of RA No. 10963 (TRAIN Law)
(Published in Manila Bulletin on August 24, 2018)
Digest | Full Text | Annex A
RR No. 21-2018 Implements Section 249 (Interest) of the National Internal Revenue Code of 1997, as amended September 14, 2018
under Section 75 of RA No. 10963 (TRAIN Law)
(Published in Manila Bulletin on September 17, 2018)
Digest | Full Text
RR No. 22-2018 Further amends Section 10 of Revenue Regulations (RR) No. 10-2010, as last amended by RR No. October 17, 2018
10-2018, relative to "Notice to Taxpayers"
(Published in Malaya on October 19, 2018)
Digest | Full Text
RR No. 23-2018 Amends certain provisions of RR No. 17-2011, as amended, implementing RA No. 9505, (Personal November 21, 2018
Equity and Retirement Account [PERA] Act of 2008)
(Published in Malaya on November 23, 2018)
Digest | Full Text
RR No. 24-2018 Further amends Section 9 of Revenue Regulations No. 25-2003 relative to the determination by the November 28, 2018
Department of Energy whether the automobiles subject to Excise Tax exemption are Hybrid or
Purely Electric Vehicles pursuant to the provisions of RA No. 10963 (TRAIN Law)
(Published in Manila Bulletin on November 30, 2018)
Digest | Full Text
RR No. 25-2018 Prescribes the regulations implementing VAT exemption on the sale of drugs and medicines December 27, 2018
prescibed for diabetes, high cholesterol and hypertension provided under the TRAIN Law
(Published in Manila Times on December 28, 2018)
Digest | Full Text
RR No. 26-2018 Amends certain provisions of RR No. 13-2018 to implement the 90-day processing of claim for December 27, 2018
VAT refund under Section 112 (C) of the Tax Code of 1997, as amended by RA No. 10963 (TRAIN
Law)
Digest | Full Text

Tax Reform for Acceleration and Inclusion Act

The Tax Reform for Acceleration and Inclusion (TRAIN) Act, officially cited as Republic Act No.
10963, is the initial package of the Comprehensive Tax Reform Program (CTRP) signed into law by
President Rodrigo Duterte on December 19, 2017.[1] The TRAIN Act is the first of four packages of
tax reforms to the National Internal Revenue Code of 1997, or the Tax Code, as amended.[2] This
package introduced changes in personal income tax (PIT),[3] estate tax, donor's tax, value added tax
(VAT), documentary stamp tax (DST) and the excise tax of tobacco products, petroleum products,
mineral products, automobiles, sweetened beverages, and cosmetic procedures.[4]
The prominent features of the tax reform are lower personal income tax and higher consumption tax.
Individual taxpayers with taxable income not exceeding ₱250,000 annually are exempted from
income tax. The exemption for minimum wage earners is retained in the revised tax system. Tax
rates for individual taxpayers still follow the progressive tax system[5] with the maximum rate of 35%,
and minimum rates of 20% (taxable years 2018 to 2022) and 15% (2023 onwards). On the other
hand, consumption taxes, in the form of higher excise tax on tobacco products, petroleum products,
automobiles, tobacco, and additional excise tax on sweetened beverages and non-essential,
invasive cosmetic procedures were introduced. It also expanded the VAT base by repealing
exemption provisions in numerous special laws.
The TRAIN Act is aimed to generate revenue to achieve the 2022 and 2040 vision of
the Duterte administration,[3] namely, to eradicate extreme poverty, to create inclusive institutions that
will offer equal opportunities to all, and to achieve higher income country status. It is also aimed at
making the tax system simpler, fairer and more efficient[6]. Regardless, contentions about the passing
of this law has been present since the beginning and the subsequent reception by the people since
its ratification has been controversial. In the first quarter of 2018, both positive and negative
outcomes have been observed. The economy saw an increase in tax revenues, government
expenditure and an incremental growth in GDP.[7] On the other hand, unprecedented inflation rates
that exceeded projected calculations,[8] has been the cause for much uproar and objections. There
have been petitions to suspend and amend the law, so as to safeguard particular sectors from
soaring prices.[9][10][11]