MANILA, Philippines --- The actual additional revenues from new or higher taxes slapped under the Tax Reform for Acceleration and Inclusion (TRAIN) Act exceeded the government's target by 8.1 percent in 2018 even as the law also allowed taxpayers to take home more money thanks to lower personal income tax rates. In a statement Thursday, the Department of Finance (DOF) quoted its strategy, economics and results group (SERG) as saying that TRAIN Law's net revenues last year amounted P68.4 billion, higher than the P63.3-billion goal. DOF's SERG was led by Finance Undersecretary Karl Kendrick T. Chua, who spearheaded the push for the Duterte administration's first of seven tax refo...
Keep on reading: DOF: TRAIN revenues exceeded target by 8.1% in 2018
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