Manila – Philippine President Rodrigo Duterte has signed the new Tax Reform Law called the Tax Reform for Acceleration and Inclusion (TRAIN) on December 19, 2017.
Starting on January 1, 2018 the take home money of most average employees and small time business owners will drastically increase.
However, there will be an increase to some of the products and services (like cigarettes, alcoholic beverages and cosmetic surgery, cars) that some can only be afford by well-off individuals.
Please check below how are going to be affected by this new tax reforms.
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