The tax reform law has a “tax-freeze” provision which must kick in when the benchmark price of crude oil in the world market reaches $80 a barrel.
Tax Reform Acceleration and Inclusion
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Senator Grace Poe has raised the need to hear the sentiments of those in the provinces with regard to the effect of the tax reform program in their daily lives.
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Senator Win Gatchalian said it is “highly possible” for Congress to recommend the suspension of the Tax Reform Acceleration and Inclusion (TRAIN) Law, after the average monthly inflation rate hit its highest in five years.
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The public may be burdened with higher taxes on fuel products and coal soon, but Communications Secretary Martin Andanar assures it is worth the sacrifice.
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Senator Bam Aquino on Thursday urged the government to ensure that financial assistance for the poor through the conditional cash transfer (CCT) program would be implemented by the time higher taxes, through the Tax Reform Acceleration and…