Tuesday, April 10, 2018

The Pain of TRAIN: Senate Wants Excise Tax Law Reviewed


Four months into the implementation of the Tax Reform for Acceleration and Inclusion or TRAIN (aka the revised excise tax law), the Senate wants to review the law once more “in aid of legislation”, which is something they should have done in the first place.

Anway, Senate Resolution 696 by Senator Win Gatchalian and Senate Resolution 704 by Senator Bam Aquino both want to look at Republic Act 10963 or TRAIN as one of the “potential causes of inflation.”

And before you begin to blame the Senators, they themselves are starting to wash their hands off TRAIN’s negativity. Aquino, in particular, said that they approved of TRAIN “due to the Department of Finance’s assurances that its impact on inflation would not be more than 0.7 percent.”

Last March, the inflation rate rose to 4.3 percent according to the Philippine Statistics Authority or PSA. This is expected to go up to 4.4 percent in May 4.7 percent in June and July, and 4.5 percent in August.

 The PSA also noted that the transport sector is starting to feel the pain of TRAIN, registering a slower-than-predicted 4.6 percent growth compared to 2017.

5 comments:

  1. The people I hate the most: Politicians. Those fat pigs should be at the lowest place of hell for making people suffer. I noticed their daily special treatment on the road by having police escorts that would block you so that they could get through quick and clean in their black SUV's. They are public servants and should be beneath us citizens. Their time is not more important than ours, why would I, who fall in line in traffic give way to those pigs that just got here? Then if you block those pesky police minions, they would give you an angry stare.

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  2. This is how stupid the Philippine Government can be, as always. Nakakahiya tayo sa ibang bansa, puro corrupt at tanga mga politicians natin. No wonder foreign investors are leaving the country little by little.

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  3. TRAIN law had just given the businessmen justification to make exorbitant increase in prices even of some old stocks. My recent experience: Handyman hiked the price of a plumbing nipple from 55 to 90 (a 64% increase). What a rip-off. I highly doubt if the DTI had been monitoring the prices.

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  4. Train Law should be removed it's useless in many ways even if the salaries of the people were increased it isn't even enough to cope up with their daily expenses thus making them say their still on the verge of "kahirapan"

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  5. Been seeing dutertards defending TRAIN as something good and without flaws. This will eventually drag until step 2 next year.

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