#TaxReformNow

"A simpler, fairer, and more efficient tax system is needed to promote investment, create jobs, and reduce poverty. Not reforming the tax system will deprive the poor of the necessary social services and infrastructure that can lift them out of poverty and make them more productive contributors to society."

Carlos G. Dominguez Secretary of Finance

Rice Traders Forum

Through the Rice Traders Forum held yesterday, potential importers learned about the new, streamlined process of importing rice in the Philippines under RA 11203 or the Rice Liberalization Act.
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What is Train?

The Tax Reform for Acceleration and Inclusion or TRAIN under the Comprehensive Tax Reform Program seeks to correct a number of deficiencies in the tax system to make it simpler, fairer, and more efficient.
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WHAT IS THE

COMPREHENSIVE TAX REFORM?


The Comprehensive Tax Program (CTRP) is needed to accelerate poverty reduction and sustainably address inequality to attain the President's promise of tunay na pagbabago. By making the tax system simpler, fairer, and more efficient, additional and a more sustainable stream of revenues need to be generated to make meaningful investments on our people and infrastructure to achieve our vision for the Philippines.
Package 1:
TRAIN
Package 1B:
Tax Amnesty
Package 2:
TRABAHO
Package 2+:
Sin Taxes
Package 3:
Real Property Valuation
Package 4:
Passive income and financial taxes

Package 1: TRAIN

The Tax Reform for Acceleration and Inclusion or TRAIN under the Comprehensive Tax Reform Program seeks to correct a number of deficiencies in the tax system to make it simpler, fairer, and more efficient. Read More →

Package 1B: Tax Amnesty

The Tax Amnesty Act or Package 1B of the Comprehensive Tax Reform Program complements the Tax Reform for Acceleration and Inclusion Act or TRAIN. It allows errant taxpayers to affordably settle their outstanding tax liabilities, allowing for a “fresh start,” while also providing the government with additional revenues for its priority infrastructure and social programs. At the same time, it signals the start of a more aggressive tax enforcement campaign by tax authorities. Read More →
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Package 1C: Motor Vehicle User's Charge

The motor vehicle users charge (MVUC) or Package 1C of the Comprehensive Tax Reform Program was introduced to provide adequate funding for maintenance of national and provincial roads. It also aims to address air pollution from motor vehicles. Read More →
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Package 2: TRABAHO

Tax Reform for Attracting Better and High-quality Opportunities (TRABAHO) or Package 2 of the Comprehensive Tax Reform Program seeks to lower the corporate income tax (CIT) rate gradually from 30% to 20%, reorient fiscal incentives toward the strategic growth industries of tomorrow, and make incentives available to investors who make net positive contributions to society. Read More →

Package 2+: Sin Taxes

Package 2+ of the Comprehensive Tax Reform Program includes proposed reforms on mining and sin taxes. Both proposals are to complement the enacted TRAIN law to generate additional revenues, make the tax system simpler, fairer, and more efficient, and align with President Duterte’s priority programs on social and environmental protection.Read More →
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HB 7994 (Mining) Download File
Date Posted: April 23, 2019
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Package 2+: Mining

Package 2+ of the Comprehensive Tax Reform Program includes proposed reforms on mining and sin taxes. Both proposals are to complement the enacted TRAIN law to generate additional revenues, make the tax system simpler, fairer, and more efficient, and align with President Duterte’s priority programs on social and environmental protection.Read More →
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HB 7994 (Mining) Download File
Date Posted: April 23, 2019
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Package 3: Real Property Valuation

Package 3 of the Comprehensive Tax Reform Program aims to introduce vital reforms to promote the development of a just, equitable, and efficient real property valuation system. The reforms will broaden the tax base used for property and property-related taxes of the national and local governments, thereby increasing government revenues without increasing the existing tax rates or devising new tax impositions. Read More →
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CTRP Package 3 Basics Download File
Date Posted: April 23, 2019
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CTRP Package 3 proposed reform Download File
Date Posted: April 23, 2019
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Package 4: Passive income and financial taxes

Package 4 of the Comprehensive Tax Reform Program complements the recently passed TRAIN by making passive income and financial intermediary taxes simpler, fairer, more efficient and regionally more competitive. It provides a window of opportunity to achieve the much-needed tax reform in the financial sector, an ingredient that could fuel and direct the movement of capital rightly to where they are most needed, so that higher, sustainable, and more inclusive growth can be achieved. Read More →
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What's New

Catch up our latest news and updates. #TaxReform

Date Posted: June 10, 2019

Sa isang UNANIMOUS vote, NAIPASA NA ng Senado sa THIRD AND FINAL READING ang panukalang itaas ang excise taxes sa sigarilyo sa sumusunod na schedule at rates

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Date Posted: June 6, 2019

The TRAIN law provides that 70% of incremental revenues will be used to fund infrastructure projects, while 30% will be used for social mitigating measures and investments in education, health, social protection, employment, and housing.

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Date Posted: June 10, 2019

Sa isang UNANIMOUS vote, NAIPASA NA ng Senado sa THIRD AND FINAL READING ang panukalang itaas ang excise taxes sa sigarilyo sa sumusunod na schedule at rates

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Date Posted: June 6, 2019

The TRAIN law provides that 70% of incremental revenues will be used to fund infrastructure projects, while 30% will be used for social mitigating measures and investments in education, health, social protection, employment, and housing.

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Date Posted: June 4, 2019

We are now in the ENDGAME of combatting the harmful effects of smoking by passing the bill increasing the excise tax of cigarettes to at least PHP 60.00 per pack before the end of the 17th Congress. This will ensure financial sustainability for the Universal Health Care Law.

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Date Posted: June 4, 2019

Anong rate ang dapat ipasa ng Kongreso sa panukalang pagtaas ng excise taxes sa sigarilyo?

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Date Posted: May 31, 2019

Senator Ping Lacson committed to cast an affirmative vote to pass the bill that will increase tobacco excise taxes. The proposed measure will help reduce smoking prevalence in the country and, at the same time, ensure effective implementation of Universal Health Care.

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The Department of Finance (DOF) is the government’s steward of sound fiscal policy. It formulates revenue policies that will ensure funding of critical government programs that promote welfare among our people and accelerate economic growth and stability. Read More..

Department of Finance | TaxReform

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