Although President Rodrigo Duterte has said he wants the second major tax-reform bill to be passed this year, senators are not confident that it can be passed before the end of December. Senators are asking for a more careful consideration of the second tranche of the Tax Reform for Acceleration and Inclusion (TRAIN 2) law, arguing that rushing the next round of tax reforms is not a good idea, particularly at a time when the 2019 budget is under discussion. Senators also want to closely examine the projected loss of tax perks for locators in economic zones, and its impact on investment and the economy. The TRAIN 2 was approved on its third and final reading on Monday by the House of Representatives, where it is called the ‘Trabaho’ bill, standing for ‘Tax Reform for Attracting Better and High-Quality Opportunities’.
Join the world's premier outsourcing community
Get the world's leading outsourcing news summary, Inside Outsourcing, delivered to your inbox each week, for free. Plus, benefit from being a part of the fastest growing outsourcing community.
- Breaking news: daily web updates with outsourcing sector updates
- Newshub: Browse over 4,000 outsourcing industry news items
- Access: get outsourcing white papers, guides, articles, videos and podcast episodes
- BPO community: join our extensive outsourcing community
- Cancel anytime: zero obligation, no spam, just great information