Train Law

TAX REFORM FOR ACCELERATION AND

INCLUSION (TRAIN)

Answer explanation

REPUBLIC ACT NO. 10963

(TRAIN)

Answer explanation

TAX REFORM FOR ACCELERATION AND

INCLUSION

also known as the Tax Reform for Acceleration andInclusion (TRAIN) as Republic Act (RA) No. 10963. The lawtook effect on January 1, 2018.

Answer explanation

Comprehensive Tax Reform Program(CTRP)

(CTRP)

Answer explanation

Comprehensive Tax Reform Program

When Train took effect?

Answer explanation

January 1, 2018

When Pres. Rodrigo R. Duterte

signed Train into law

Answer explanation

December 19, 2017

aims to make the Philippine Tax System

simpler,fairer, and more efficient to promote

investments, create jobs and reduce poverty.

Answer explanation

TRAIN

also aims to raise revenues that will fund the President’s Build,Build, Build Project that will sustain high and inclusive growthof the.country; and finance investments in our people through enhanced education, health and social services.

Answer explanation

CTRP

RA 10963 which includes amendments to

several provisions of the National Internal

Revenue Code of 1997 on:

Answer explanation

● personal income taxation

● passive income for both individuals and corpor-

ations

● estate tax

● donor ’s tax

● value-added tax (VAT)

● excise tax

● documentary stamp tax (DST); and

● tax administration, among other

It likewise introduced new taxes such as:

● the excise tax on cosmetic surgery and sugar

sweetened beverages.

restructures the personal income tax (PIT)

schedule,with separate schedules for compen-

sation income earners(CIEs), purely self-employed individuals and/or professionals(SEPs)

Answer explanation

RA 10963