What are the taxation changes to take note of following the implementation of the TRAIN law?
As we welcome the new year, we are slowly beginning to see the changes in Philippine taxation due to the Tax Reform for Inclusion and Acceleration (TRAIN) Law. Train overhauls the outdated National Internal Revenue Code (NIRC) which was adopted 20 years ago. The TRAIN--signed into law by President Rodrigo Duterte on Dec. 19, 2017--is the first among several tax reform measures of the administration.
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