Luxury cars cheaper under new TRAIN (tax) law

The Tax Reform for Acceleration and Inclusion (TRAIN) Act has been signed into law by President Duterte. This law aims to generate 130 billion pesos of revenue for the government.

President Rodrigo Duterte has signed into law the Tax Reform for Acceleration and Inclusion (Train) bill which is expected to generate P130 billion in revenues. Duterte signed Republic Act 10963 or the Train law – a priority measure of the Duterte administration – at MalacaƱang's Ceremonial Hall on Tuesday, December 19. (Duterte signs 1st tax reform package into law; Pia Ranada @piaranada Published 3:21 PM, December 19, 2017 Updated 9:41 PM, December 19, 2017)
The Tax Reform for Acceleration and Inclusion (TRAIN)--signed into law by President Rodrigo Duterte on Dec. 19, 2017--is the first among several tax reform measures of the administration. The TRAIN will have an impact on the take-home pay of Filipinos, prices of goods and services, and spending and consumption patterns. (The Tax Reform for Acceleration and Inclusion or TRAIN Law; ABS-CBN Research and Investigative Group; infographic by Pamela Ramos; Posted at Dec 19 2017 06:04 PM)

As can be seen in the photo above, however, it appears that luxury cars will become cheaper and economical cars will become more expensive.




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