Breaking News
Home | Money Matters | ‘Train 2’ also to focus on take home pay, says exec

‘Train 2’ also to focus on take home pay, says exec

Iligan City Bureau Chief .

ILIGAN City – Similar to the first package, the second bill of the Tax Reform for Acceleration and Inclusion (TRAIN) proposes to cut corporate income taxes, but this should correspond with lower tax incentives including the salaries of the employed and self employed.

Thus said in last week forum facilitated by the Chamber of Commerce and Industry Foundation, Inc. (CCIFII), the Mindanao State University- Iligan Institute of Technology, the Junior Philippine Institute of Certified Accountants (JPIA).

The train Law signed by Pres. Duterte December 19, 2017 provides increase in take home pay of salaried individuals.

Resource speaker Francis J. Ricamora, CPA briefed participants, that individuals, those who are salaried, and even those who are self-employed, provided has no other  sources, with an income of P250,000 will no longer pay income taxes beginning January 2018.

But inflation sets in as there are increases in prices of goods, especially in oil and petroleum products even as there are increases too in excise taxes in donors and allied taxes.

Ricamora said that Congress is hesitant though to pursue with fervor Train 2 as this might not sit well with the people specially that next year is an election year.

With the present Train Law, educational businesses do not take into account increases  in prices of educational materials like books and other goods related to education. So, they will correspondingly increase tuition fees.


About mindanao goldstar daily

mindanao goldstar daily
TREND MAKER. Mindanao Gold Star Daily was established in 1989 to set ablaze a new meaning & flame to the local newspaper business. Throughout the years it continued its focus and interest in the rural areas & pioneered the growth of countryside journalism.

Check Also

DOST pours P6 million to grow science tourism site in Normin

Department of Science and Technology (DOST) region 10 poured in P6.6 million to Mt. Kitanglad ...

DISCLAIMER: We welcome fiery exchanges but we do not tolerate ad hominem attacks, casting criminal and false aspersion on our reporters and opinion writers. We reserve the right to delete, reproduce or modify comments posted on our website without prior notice.

POSTING RULES: Do not use obscenity. Stick to the topic discussed. Do not veer away from the discussion and be respectful at all times. Do not use CAPITAL LETTERS as this means shouting in the thread.

Leave a Reply

Your email address will not be published. Required fields are marked *