By Genalyn D. Kabiling
The implementation of the country’s first tax reform law has been so far “quite successful,” and the government is committed to ensure the revenues would be “well-spent,” a government finance official said yesterday.
Undersecretary Karl Kendrick Chua of the Department of Finance said the Tax Reform for Acceleration and Inclusion has helped raised the take-home pay of workers and generated more government revenues, among others.
“I think in general, it was quite successful. We give P10 billion per month at least to working people and that’s fuelling a lot of the positive consumer expectation,” he said,
“The revenue collections in the first two months are on target, and our inflation has remained manageable,” he added.
Chua admitted that TRAIN was not an “easy reform” but the government would continue to monitor its implementation and “make sure that the fruits of TRAIN are going to be well-spent.”
The TRAIN law or Republic Act No. 10963 was signed by President Duterte last December.
