e

TA)( REFORM FOR ACCELERATTON AND TNCLUSION (TRATN) ACT

(RA No. 10963)

Prepared by: cDr. 'Virginia Jeannic Q. Lim

Baguio City

This Law was signed by Presideni R, Duterte on December 19, 20L7 and it took effect
January 1, 2018. This law simplifies ttre country's tax system whereby the governnnerrt expects
to generate more revenues to fund its infrastructures projects and multifarious programs. On
the other hand, the labor sector is expected to be freed from the burden of outdated and
irrequitable personal income tax. Significant changes and inajor amendments to the National
Internal Revenue Code of 1997 (RA 8428) ai'e now irr place, particularly: on (a) personal income
tax rates, (b) passive income, (c) estate tax, (d) donor's tax, (e) the value-added lax by
expanding the tax base as well as removing VAT exenrptions, (f) adjustments on excise taxes of
fuel, automobiles, coal, (g) docurmentary starrrps tax, and (h) it has introciuced new taxes on
sweetened beverages and on cosnretic proceclure (non-essential seruices).
tThis "TRAIN" Agt aims to create a more just, simple and more effective tax system of tax
coilection, under the law, the rich will have a pay bigger taxes to the gcvernment and the poor
will benefit more from the government's proqrams ancj services.

On Income Tax - The new law has relatively decreased :he tax on persc,nal i;tcome.

a) The new income tax rates are Z1o/o, 25c/o, 3Ao/o, 32o/o and 35% for 2018
"ntil 2C22.
Beginning 2023 and onwards the rates rvill be lowereo to 150/o to 35olo

Beginning Januaty 1, 2018 to December 31, 2O72:

Income an Tax -
More than 20o/o in K
More than Php 400,000 Php 30,000 + 25o/o in excess of Php
400K
More than Php 800,000 i pnp tgo,OOO + 300/o in excess of Pl^,p
;800K
More than Php 2.0 million Php 490,000 + 32o/o in excess of Php
2.0 rnillion
lvlore than p 8.0 million 2hp 2,410,000 + 35Yo in excess of
Ph 8.0 rnillion

January L,2023 onwards:

Tax payable and tax rate
More than Php 250,000 !5o/o ir, excess of P 250K
More than Php 400,000 i Php 22,500 + 20a/o in excess of Php
i +oox
Mcre than 800,000 Php I 02,500 + 25o/o in excess of Php
803K
Mo.e than Php 2.0 million i Php 402,500 + 30o/o in excess of Php
2 0 rnirlion
More n Php 8.0 million ?hlt 2,202,500 + 35o/o in ex:ess of
P 8.0 rnillion

b) Compensation incqme qf Php 250.000.00 and below - Exempi from income tax and
r,vithholdir:g tax.

c) lnrygl-@8.O million and above -35o/o on net income

d) Personal exemption of Php 50,000 and aooitional exemptions of Php 25,000 for quali,Gied
oependents (maxlmum of 4) are no ionger allowed to individual taxpayers.

1
e) Husbend and wife who are bsth workirrg can benefit from a total of up to Php 500,000
exemptions from their gross income.

f) The health and irospitalization prernru,n allowance of Php 2,400 per annum can no longer be
availed of by individusl taxpayers,

9) The threshold exernption on 13th month pav arrd other bonuses receiveC by salaried
cnpl-olees has been raised to Php 90,000 from Php 82,000, Hence, Php 90,000 ano beiow
exempt from income tax.

h) The Annual Income Tax Return and payment (BiR Forms 1700 and 1701) of an individual
taxpayer is due on or before Apfl-]5 of evety year. Whereas, self-emprol'ed and
professionals shall flle their first (1't) quarter fTR (BIR Form 1701Q) on May 15. (NOTE: The
law is silent as to when corporations shalr nle income tax return and pay their income tax,
thus, as of today we still follow the Tax Coce)

j) ifthe gross sales or income of self-employed or professional taxpayers is Php 3.0 million
and below they are no longer required to pay Pei'cenizge (%) Tax and Incotne Tax instead
the)' have the option to choose (a) payment of withholding tax of 8%-EUfl' BATE on their
gross sales or receipts or (b) to pay the graduated incorne tax rates of 0o/o - 35o,L under the
TRAIN Act.

k) Self-ernployed ahd professionals viith grcss sales or income of Php 3.0 million and below
has no option to register as a VAT businessman.

nr Gross irrcome of Php 250,000 and bclow - Exernpt from income tax'

Gross income in excess of Php 250K but below Php 3.0 million -' the
taxpaye| may choose either: (a) 8% flat rate on gross sales / receipt or (b) follow
pei'sonal income tax table under the TRAIN.

The taxpayer vrith less than Php 3,o million gross sales or income ltho
chooses the graduated income tax rates under the "TRAIN" may continue
the use of itemized standard deductions or the oPtional standard
deductions of the Tax Code:

1) Personal income tax schedule under the "TRAIN" with 40olo OSD on his gross
sales/receipts plus 3olo percer)iage tax, ol'

2) Personal inconre tax schedule under the "TRAIN" wlth itenrized standard
deductions plus 3% percentaoe tez.

l) If the annual gross sales cr inconre of self-enlployed or professional taxpayers is lnore than
Php 3.0 million - they do not have a chcice but to foliow the graduated income tax rates
-IRAIN Act on tneir net taxable income. They are also subject to the
and schedule under the
Value-Added Tax. (VAT)

m) Unless the self-emplclyed taxpayer or the professional signifies in the 1s quafter i'ecurn of
the taxable year l.rs intention to elect the B(7o income tax rate, said laxpayer shall be
considered as having avail of the graduated rates under the Tax Code, as amended and
such election shall De irrevocable for the taxabie year.

i) Beginning January 1, 2018 the Fringe Beneflt Tax (FBT) applicable is 350/0

j) Beginning January 1, 2019 interest inconl"r earned on foreign currency deposits will be
subject to firral withhoiding tax of 15olo instead of 7.50/o.

k) Tlme deposits of more than 5 years and 1 Jav shall continue to enjoy exemption from the
2Ooh Final Withholding Tax. But pre-ierniilated tlme deposits will be taxed at 20olo Final
 withholding Tax. The cld rates of 5o/o - ZCoi,t on pre-terminateo time deposils under the Tax
Code are no longer appiicable'

l)- Special Aliens working in companies registered with PEZA (Regional Area Headquarters,
Regional Operating Hladquarters, Offshore Bankinq Units, Petroleum Service, Contractors
and Sub-contractors) beginning January 1, 2018 shall be taxed at the new income tax rates
of 0o/o - 35o/o,

m) LOfiO and PSCO winnings of more tl'ran Pip 10,000 shall be subject to final withholding tax
of 20o/o.

n) Invasive Cosmetig procedure (non-essential se,vices) - 5% on procedures, surgeries and

enhancement for aesthetic reasons,

The filing of withholding taxes and per.entage taxes shall now be on a ouarterlv
c) basis
EXCEPI' withholding tax on compensation. (rnonthly)

p) (b)
Penalty interest of 20o/o per annum in cases of (a) deflciency or delinquency assessment,
late payment or non-payment of taxes - Double the legal interest rate per annum.

On Stock Transaction Taxl

to
a) Income or. gain from sale of shares of stocks not traded in the exchanges shall be srrbject
150/o final withholding tax on net gain.

b) Sale of shares of stocks traded in the exchanges shall be taxed at 0.600/o of 10/o
on its gross
selling price.

on Transfer Taxes.
oF TransfF.r TarE: TMIN has drarnatisally reduced the tax rates hand,
ffiit
'mafe
ilffiit the key here is
to loss revenues to the government but on the one
go to its best use'
td tirl lanrJ market more elficient so Urat the land or property will

(estate tlx a!q-!o.nor's) are

I{OTE: The new features on transfer taxes
ilfliilable only to deaths occurring 2018 or donations given 2018 (effectivit''1,
oi TRAIN Act), Alt unsettled esta[e tax and donor's tax prior to JanuatT
2018 shall be covered by the Tax Code.

A.Eelelg$E
1)GrossestateValuedatPhp5.omiilionandbelow-exemptfromEstateTax.

2) Gross estate valued above Php 5.c million - Flat rate of 5olo on the net value of the
estate in excess of Php 5.0 million.

3) Notise of Death is no longer requirecl.

tax is
4)' The Estate Tax Return shall be due withln one (1) year from death and the estate
llkewise payable within 1 year fron death'
(2) years from
5) Maxinrum allowable period for the ful! payment of the estate tax is twc
death.

6) Gross estate of the dececjent exceedlng Php 5.0 million mrlst be

certifieci hy a CPA'

Act removes funeral expenses, judicial expenses and medical expenses

1'rom
7) -The TRAIN
' arongrt its allowable deduction and instead it has increased the standard deduction
isol [o pnp 5.0 million, This sD is a.railabte only to citizens of our country, both
resident and non-resident.

3
 If the decedent is a resident alien, the heirs can avail of only a maximurn a:nount of
Php 500,000.

B) Family home value at Php 10 mlllion arrd belorv shall no longer form part cf the gross
estate. (exempt from estate tax)

e The family, home valued at abrove Php 13,0 shall form part of the gross estare and
the allowabte deduction for family home shail be Php 10.0 rnillion.

9) Withdrawals from the deceased person's bant< deposits are allowed (any amount) but
the same is subject to 6% rinal withholding tax.

B, Donor's Tax.
1) Donation valued at below Php 25CK shall bre exempt from Donor's Tax'

2) Donation v'alued at Php 250K and above sharl be taxed al60/o in excess of ttre first Php
250K.

3) The rate shall be

ia>< 60/o on the net gift regardless of the relationship between tne
donor and the oonee.

4) The 300/o tax rate on gift to stranger or when donor is a corporation has bee't rentoved
5) Donations of real property are subject Lo cocunrentary stamps tax at Php 15.00 per Php
1,000.0C of the net r,'alue of the gift.

On Creditable Withholdinc Tax on Incofne p4yments:

The 8olo withholding tax rate replaces tite 2-tier rate of 10o/o (for those
earning Php 720,000 and below per year) or L5o/o (for those earning more
than Php 720,000 per year) shall now apply to all payments to
a) Prol'essional fees, talents, comrnission, ett:, for seruices rendered by individuals,
b) Income distribution to beneficiaries of estates and trusts
c) Income payments to ceftain brokers and agents
o) income payments to partners of general professional partnership
e) Professional fees paid to medical practitioners, and
f) Cornmission of independent andlc,r exciusive sales representatives and marketing agents
of companies.

On Documentary Stamps Tax:

Art. Under the x illew Tax Rate

a. DS 101 ri nal issue Shares 00
b. DS 102 Sales, Agreements to Sell, Memoranda of Sales, De 20Cl
or Transfer of Shares oi'Cer of k with
N CASE slock thout par v rr6 of DST paid on original
issue

I
d DS 104 Certificates of P,cfits or lrrterest in Property or P 1 C0_/ 200
Accumulations
e. DS 105 Bank Checks. Drafts Certrtrcates of Deposit not Bearing P 3.00
lnterest and Other lnstruments
f DS 106 nal ssue of All Debl lnstruments of ISSUC
r a fraction of 305
strument '.viih term
1

g Acceptance of Bills oi ange or Order drawn in a Foreign n

1 F_9.68_/
Cou but ble in the Phil rnes
h DS 108 Forei n ls of Exchange arrd Letters of Credit t 200

.f
I
Fosli5- lnsurance icy amount' do es not exceed
P2000
mpt
P100,000
Exceeds P 100,000 but does not exceed P 300,000
Exceeds P 300,000 trut does not exceed EILOO
P 500,000
Exceeds P 500,000 but cioes not exceed P P'100,00
750,000 P150 0
P200.00
Exceeds P 750,000 but rloes not exceed P 1'000,000
Exceeds P 1,000,000

on Annu
1
of the
112
prernium or installment
payment on contract
price collected

P 0.40/200 of the
Pre-Need Plans premium or contribution

k_Ds'm---
DS 114 188 of tire Tax Code) P
P 30 0-0 with value
ouse Receipts
above
ai-aiai, Horse Race Tickets Lotto or Other rized P0.20/P100
m. tlS 11
Num mes
n, oor A'A pts P 100 !c P- 1,000 r
o, 118 for g at any ele ction
nQ a lo rS
Hi ng ,AEreemerrts P2, P9 0o
Leases and
lnexcess(F2.00/P
i,000r

r. DS 121 Ivlortgages, Pledges an d Deeds of rusl 1st P5 969 P_40.-0!

o'Dr ne 20c
s. DS 126 of a e

Based on the above table:

some iegai
a) Documentary Stamps Tax (DST) on Cocuments, instruments, loan agreements,
lncrease in
or business transaction anc] papers such as bank checks are subject to 1000/o
is Php L'50 per Php
tax. (0.75 to 1.50 and 1.50 to 3.00 now) l-ience, on bank loans DST
200.00 of the loan proceeds beginning 2018'

b) DSI on ciebt instruments increased by 500/o

c)
I

DST on saie of capital assets, cor)\/eyance and donations of real property, property
insurance, fidelity UohOs and other insurance i:rdemnity oonds - n-o change'

On Excisq I'axgs:

A) Fuel (Diesel and Gasoline), LPG

(Resular & Unleaqlell Diesel LPG

- 7.0c :018 - 2.50 per iiter 2018 -I liter

.00 20 9 - 4,50 t9-Z iiter

- 10.00 9O9-sei 2010 - 3

---
q Banker fuel - PhP 2,50 Naphtha - PhP 7.00 Per liter
Q> Pet coke - 2.50 Per liter Asphalt - 8.00 Per liter
q, Kerosene - 3.00 Per liter- Lubricating oil - 8.00 Per liter
S Aviation fuel- 4.00 Per liter Refined fuel- 8.00 Per liter
S Indigenous Petroleufii - 6o/c Paraffin wax - 8.00 Per liter

5
B) On Sweetened Beverages:
1) Beverages using artificial sweeteners - Php 5'00 per liter
2) Beverages using high fructose corn syr!p - 12'00 per liter

beverages (sodas) 'arith added

3) This new excise tax wiil be lnrposed o, ail carbonated
_/sugarincludingthosewithcaloricornon.caloricsweeteners'

powdered
energy di'inks' sports drinks; other
4) Taxable beverages includ.e flavored water,
grain beverages'
drinks not ctassi'fied as milk, cereal anc' other

5)Non.alcohollcbeveragesthatcontainsaddedSugar,suchasshakes.

6) ExemPted beverages are:

a) Milk
b) 1000/o natural fruit
c) Vegetable or grain juices
d) Ground and 3-in'1 coffee
e) Beverages that use coco sugar and statria
0 Medically indicated beverages sucir as coco Sugar and stavia'
s)Beverages that use naturaisweeterrers

C) On motor vehiclesl
T N
Not tha n
More 600,00 - 1.0 million
n 0mi to n - 4.0 millioq
M ore than Ph millio n

sHybridcarswillbetaxedathatfthenewratesimposable.
Va lue of car
2 lo
rnore than Ph 600 i b
ore mill t6

1.0 on- -_L!

lo
More nPh 4.0 million
agricultural pul'poses) and
s Pick-ups (commonly usert for commercial and
purely electiic cars will be exenrpt from excise taxes'

D) On Cigarettes:
per pack
a) January to lune 30, 2018 - Pnp 32'50
Ui :rfy - 6ecember 2019 - Php 35'00 per pack
ii zazo to 2021 - PhP 37'so Pei' Pack
i1 zozzto 2023 - PhP 4o'oo Per Packinc;'ease
ei 2024 and onwardS - 40lo Ennudl
E) On Coal
a) 2018 - PhP 50.00 Per metric ton
b) 2019 - PhP i00.00
c) 2O2O - PhP 150.00
d)Miningt"rf*extractionofmetallicandnon'metallicntinerals'quarry
increase in rate and applicable
resources and other metailic p*Ju"t* - r00o/o
alsotoallotherminerals'(fronr2o/:tc4o/o)
O! VAl':
a) Busrnessmen and business6 with annual gross saleslreceipt of Php 3.0 million and below
who opted to be taxed under the TRAIN Act's regular income tax and schedule exempt -
from VAT but sub;ect to percentage tax. (NOTE: the threshold of Php 1,919,500 has been
increase to Php 3.0 million,

b) The option to choose $/hether io reg;ster as VAT or non-VAT taxp3yers available to

businessmen and professionals realizing Php 3.0 milllon and below of gross saies/receipt has
beerr removed,

c) Eledric cooperatives are subject to 120lo VAT under TRAIN.

d) Sales of gc,:ds to PEZA - l2o/o Y NT upon rmplementation of enhanced VAT refund system.

e) Exempt from 120lo VAT under TRAIN:

1) Senior citizens

2) Persons with disabiiity (PWD)

3) Ccoperatives registered with the CDA

4) Food arrd agriculturai products in tireir original sL3te

5) Health services

6) Educarion

7) Renewable energy

8) l ourism enterprises
9) BFO operating within the Special Economic Zone

1C) Lease of real propeties below 15,000 per rncnth

11) Association dues, membership dues and othe. charges .cllected by homeowners'
Association and Condominium Corporations.

12) Mediclnei for diabetes, hlgh chclesterol and hypertension - exempt from 12% VAT
beqinning 2019

13) Socialized housing valued at Php 150K ano betcw and low cost hoLrsing valued at Php
3.0 million and below * exemption fronr 12olo vAT is retained from 2018 - 2020 only.

14) Socialized housing, mass housing projects in and out of NCR (Php 2.0 million and below)
- exemptian from 12orb vAT continues f;orn 2012. By 2021 only real properties sold by
real estate dealers (RED group) valued at Php 2.0 and below shall be exempt from vAT.

lil Transfers as provided under Sec, 40(CX2) - VAT exempt

16) Amortizafion of input VAT for capital goods - to he repealed bY 2022.

17) GOCG, SUC, national gov€rnrrlent agerrcies - Shift to subsidy through the tax
expenditure find CfED in the natio,rai budget
 1

Comparative Tables
Between RA 8428 (Tax Codei and RA 10961 (TRAIN Act)
On Income Tax Rates and Tax Pavable:

I Tax I

I
Payable Beginning January 1, 2018 to December 31, 2O22t
NIRC and Tax

Individual income tax rates 5ol0, L5o/o,20o/o, lndividual income tax rates nning 2018 to 2 -2C 2 , 30o/o,

25o/o, 30o/o and 320/o 320/o 3ncl 35o/o

Ja 1 3 onr,va - tlo/o 30 an

Not over Php 10,000 5o/o Gross Income per Tax payable and tax rate

Over P10K but not more than P 30K P500 + 10% Morc than Php 25C,000 20ozi: in excess of PhP 250K
in excess o1r
P lOK
Over P30K but not more than P 70K P2,500 + More than PhD Php + in excess of PhP
15ozl in
excess of

Cver P 70K but not more than P 14 OK P 8,500 + -'i rvorri-ir,in Php 8oq ooc Php + n p K

20% in
excess ot' P
K

Over P 140K but not more than P I P 22,500 + More than Php 2. million i Php 490, 000 + 2olo ir''l €XC..Ss of Php 2.0
2s0K 25o/o in I million
excess of F
140K
Over P 250K but not more than P P50i( + I More than Ph p 8.0 milllon Php 2,410,000 + 35o/o in excess of Php 8.0
500K 30% in million
excess of I

l
l
P 25OK
P L25K + .12
I

Over Php 5C0,000

o/o in excess

of P 500K

ds:
Gross Income per Tax payable and tax rate
annu
2-5 rn 7SOK
More tl^a in
More than Ph + 25o/o in
I More lhan Php 2.0 million I
Php 402,500 + 300/o in excess of Php 2.0
mt
More tlran Php 8,0 million Php 2,202,500 + ll5o/o in excess of Php 8..0
million

On Passive Income:

NIRC TRAI N Act

interest earned from foreign currency deposits is subject Interest earned from foreign currency deposits is subject I

& 7.5o/o final wrthholding tax

PCSO and LOTTC winnings are exempt from tax
150/o final X
-.-__- --j-tpPCSO and LOfiO winnings are sulrject r.o 20o/o Final
I

withltoldi nq tax if amount won is m nPh 1C 000

Tirne deposit of nrore than 5 years ancl 1 dav - exempt l-,me deposit of nrore than 5 years and 1 oey - €rxempt
from final rarithholding tax, but if pre-terr;inated: if from final withhoiding tax, but if pre-terminated, it shall
following rates shall apply: be subject to 20o/o final withholding tax.
a) 4 years and more but before maturity - 50/o final
withholding tax
b) 3 years and more to 4 years - !2o/o fir,al witl'holding
tax
L q!gl9!_l_y9Als - 20% final withhodry_lex.

B
On Sale gf Shaggg of Sf,9ckF:

NIRC TRAIN Act

I

n Tax Rate
Transac'lion
5o/o 0n the Sale of shares of stocks NOT traded 150/o of the net
first P 100K through the stock exchange gain
through the stock exchange
net gain ano
LAc/o in
excess cf
P 100,000
Sale of shares of stocks traded through
r 0,50b/o cf Sale of shares of stocks traded 0.60% of !o/o of
the stock excharrge !o/o of ttte through the stock exchange the Eross selling
gross sell,ng price.
price (6/10 of 1Yo) I
I
1/z of !o/o -.i

0n Transfer Taxes:
r-- NIRC TRAIN ACt

ls one year
tax ,..1

period for the full Payrnent of lhe estate tax is TWO (2)
months from death I
I

from estate Gross estate of PhP ar,d below - ExemPt frcnt estale'
estate

Nctice death no longer

If gross estate is million and above - CPA

2. catiort I Ifgross estate is PhP 5,0 million a abo're CPA certification-
be included in the ano Financial Reporcs and Statements must [re included in the
and Financial RePotcs and Statements must I

retu
Frrneral expenses (max P judicial expenses for
P Not allowed
testamentary disposition and medical expenses (max 500K)
--- +
re
n
so claim PttrTo If decedent is a resident al the heirs can
decedenl is a the heirs can a

asstan@ 500,000 as stand ard deduction

gross estate P 10.0 million is allowed to be deducted from gross estate
P 1.0 mrllionT iltowed to be deducted frorn I I
I

fam
Withdrawals from dEedent Person's bank deposits are alloweJ
k deposits not allowed until estate
for funeral expenses (any amount) but the same is stlbject to 60lo t'inal withholdrng
is paid, except F20/000

Donor's Tax rate is 60lo of the net g reg ardless of the

Tax Rates - 2o/o, 4o/o, 60/o, 8o/o, !
Dor,lor's !2o/o and 15o/o
between donor and donee
of the net gift ' if donation withtr the
is in favor of a relative relationship
IOU
Ifdonation is ir, favor stranger or if the donor is a juridical
s) Deleted
entibt - tax rate is 30o/o (referred to as Gift to'Strang er

below,- exempt value of ation is P hp 250K and belor,rl - exempt f!'o'f i

If value of donatlorr is PhP

subject to at more than PhP 250,000 is subject to donor's

Donation valued at more tha
Tax atP per
Donations of reai ProPenY are subject to
000 of net

AnJxelge-Taxes:
/r. Motor vehicles:

NIRC
_ lrarl
__l.-

Value of car (Non- Tax Value car ( Hybrid)

of Car Rate
Not than 600 2i,o
to than 600 000 4o/o

P 12,000
+ 20a/o of More tl',an 6C0,00 1'0 !0o/o More than 600,00 1,0 Sc/o

Over P600K to P1.l million value in million million

excess of
P 600

9
i NIRC TRAIN Act
Value of Car Tax Rate Value of car (Non- Tax Value of car (Hybrid) Tax
br
P512,000
+ 600/o of More than Php a 0 million 500/o More than Php 4.0 million 25o/o
Over P 2-.1 millicn value in
excess of
P2.1 M

0n Cisarettes:
NIRC TRAIN Act
January to June 30, 2018 - Php 32.50 per pack
Php 30.00 per pack July - Decernber 2019 - Php 35.00 per pack
2020 to 202r - Php 37.50 per Pack
2022 to 2023 - Php 40.00 Per Pack
2024 and rnwards - 4olo anduEl increase
I

On Manufactured Oils and other Products:

Product ( per liter / kilo ) Anlount Amount of Amount of Amount of

of x 2018 tax 2019 2920
t., I

450 8 9.00 10.00

Ltl oil
0.s0 8 9.00 10.00
9.00 10.00
lVaxes and -_- __.L__ 3.50 8.00
Denatured alcohol to be us9{log9lle_pqryel-_ Q,5_0 I 8.00 9.00 10.00
Na a, reqular qasoline and sim ilar oroducis 4.35 7.04 9. 1C.00
Unleaded u I
7.00 00 10.00
Aviation t ) 6 4.00 4 4
Kerosene I 0 3 4,0
D fuel oil 0 2.50 4.s0 6.00
LPG 0 1.00 I z.nc 3.00
Its 1r,56 8.00 I g.oo 10 .00
Banker fuel oil 0 2.s0 4.50 00
I m coke ._--l 0 2.50 4 6 00

On Mineral Products:
r"
Mineral Products R.C
Coal and coke P 10,00 per metric ton 2018 : P per metric ton
2019 : P 100,00 per metric ton

-metallic minerais anC quarry 2.o/a 4o/o

er 'rletallic minerals 20lo 4o/o

Gold and chromites 20.b 4o/o
In digencus p_etpleum 3o/o 60/o

On New Taxes:

a) Excise Taxes on Sweetened Beverages:

$ Using purely caloric sweeteners and purely non-caloric sweeteners or a mix of

the hnro (2) sweeteners Php 6.00 per liter

$ Using purely high fructose r:o:'n syrup or in combination witlr any caloric or
non-caloric sweeteners . . , . ,Fhp 12.00 per liter

q) b) Non-essential seruices - Invasive Ccsnretic procedures, surgeries and enhancement

for aesthetic reasons . . 5o/o of the qost of the procedures. ,
.l

1C
 The second package of the TRAIN Act will be for corporate
Income Taxes and Modernize Fiscal Incentives.

Prepared by: Dr. Jeannie P. Lim. ALL RIGHIS RESiRVED

lanuary 19, 2018

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