Just days before Christmas, the comprehensive tax reform bill has been ratified into law, and President Rodrigo Duterte said with pride that this is the government’s biggest present to the Filipino people.
“This is the administrations biggest Christmas gift to the Filipino people,” Duterte said in a speech after signing into law the Tax Reform for Acceleration and Inclusion (Train) Bill or Republic Act No.
10963.
In the new tax reform law, employees who are earning an income of P250,000 or below annually are exempted from tax.
Finance Secretary Carlos Dominguez III and Sen. Juan Edgardo Angara, chairman of the Senate ways and means committee agreed with Duterte’s statement.
Angara said that the new law will help improve the lives of Filipinos.
(DAILY NEWS ROUND UP FOR 12/ 20 / 17)