What’s in the approved Philippine Tax Reform (TRAIN)?

As we welcome 2018, we also welcome a new law that would govern the entire Filipinos. The new Tax Reform for Accelaration and Inclusion (TRAIN), also referred to as Republic Act No. 10963, was finally passed into law after President Duterte signed it last December 19, 2017.

Here is a summary of the TRAIN or RA 10963 based on our interpretations of the provisions of the law. Should the Bureau of Internal Investigation, under the Department of Finance, have different interpretations pertaining to the implementing regulations of the said law, such then will prevail.

For Personal Income Tax Tables, read it here.

Additional information on TRAIN can be found when you visit the website of the Department of Finance.