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What is the meaning of TRAIN Law?

Updated: 4/30/2024
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TRAIN Law stands for Tax Reform for Acceleration and Inclusion Law. It is a tax reform program implemented in the Philippines aimed at restructuring the country's tax system to make it more progressive, simpler, and fairer. It includes provisions for adjusting income tax brackets, expanding the value-added tax base, and imposing excise taxes on certain products.

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