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