000			04384nam a2200421 a 4500
001			34369
003			0000000000
005			20240411192816.0
008			191105n 000 0 eng d
020			_a978-621-416-072-3
245	1	0	_aA Study on Income Tax Law and Accounting: Under the Train Law _cVirgilio D. Reyes
260			_aManila, Philippines _bGIC ENTERPRISES & CO., INC. _cc2019
300			_ax, A-23 pages _bnewsprint., _c23 cm
490	1		_a A Study on Income Tax Law and Accounting: Under the Train Law
500			_aDespite various reform efforts over the years, the tax system in the Philippines continues to suffer from chronic weaknesses. The Duterte administration is pursuing a simpler, more efficient, and more equitable tax system to support its economic growth strategy. The administration's Comprehensive Tax Reform Program was filed as House Bill (HB) No. 4774 in January 2017 at the lower house and Senate Bill (SB) No. 1408 at the Senate. These bills represent the first of several reform packages that will each focus on different areas of tax policy. The House of Representatives approved a compromise bill, HB 5636, titled "Tax Reform for Acceleration and Inclusion" or TRAIN in May 2017. HB 4774, HB 5636, and SB 1408 seek to reform the structure of the personal income tax, value-added tax, and excise tax on petroleum products and automobiles, while improving the progressivity of the tax system. A portion of the additional revenues generated will be earmarked for investments in education, infrastructure, and health to stimulate long-term growth. This paper aims to assess the implications of these bills on the distribution of tax burden across income groups, economic incentives in affected sectors, national government revenues, and likely impact on tax compliance. Keyword: tax reform, tax system
999			_c8630 _d8630