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Is the TRAIN Law burdening majority of Filipino families?
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What was the tax rate before the TRAIN Law?
The most popular part of the Train law is the reduction of personal income tax of a majority of individual taxpayers. Prior to the enactment of the new law, an individual employee or self-employed taxpayer would normally have to pay income tax at the rate of 5% to 32%, depending on one's bracket.
What are the changes under the TRAIN Law?
But actually, there are much more significant changes under the Train law which are not being reported. The most popular part of the Train law is the reduction of personal income tax of a majority of individual taxpayers.
Why was the TRAIN law enacted in the Philippines?
Apparently, the Philippine tax system is a very complicated one. This was certainly considered by Congress when it enacted the Train law. Consequently, Train introduces amendments which are geared towards simpler tax compliance. Some of these amendments are:
Last Update: Oct 2021
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