ADVERTISEMENT
Manila Bulletin devider devider 'TRAIN 1-B' to raise P183 B until 2022 – DOF

'TRAIN 1-B' to raise P183 B until 2022 – DOF

Published Mar 15, 2018 10:00 pm
By Chino S. Leyco The Department of Finance (DOF) expects the second tranche of the Duterte administration’s first tax reform package would generate P183 billion in the next five years. Based on DOF estimates, the Bureau of Internal Revenue (BIR) could raise additional P92.96 billion between this year and 2022 if the Tax Reform for Acceleration of Inclusion (TRAIN) 1-B bill is passed into law before the end of this month. Under the DOF revenue program, the BIR’s total collection annually from TRAIN 1-B would amount to P31.6 billion this year, P13.2 billion in 2019, R14.56 billion the following year, P16 billion by 2021 and ultimately, P17.6 billion in 2022. Based on DOF estimates, the planned estate tax amnesty and the general tax amnesty could bring in R6 billion and P13.6 billion in non-recurring revenues, respectively, during their single-year of implementation. If the bank secretary is relaxed while the exchange of information is implemented, the DOF estimated that the BIR could generate P12 billion this year, R13.2 billion next year, P14.56 billion in 2020, another P16 billion in 2021 and P17.6 billion by 2022. For the Bureau of Customs (BOC), the DOF estimated that the agency may generate P18.34 billion during the five-year period of TRAIN 1-B, which would entirely come from lifting of the bank secrecy law and the exchange of information proposal. According to the DOF, the Customs bureau could collect P3 billion from TRAIN 1-B this year, P3.3 billion in 2019, P3.64 billion in 2020, R4 billion in 2021 and finally, P4.4 billion by 2022. The proposed overhaul of the current motor vehicle user tax (MVUT), which is under the Land Transportation Office (LTO), meanwhile, is seen to raise P71.7 billion from 2018 to 2022, the DOF document showed. Of that amount, the DOF expects P4.3 billion will be generated from MVUT this year before it accelerates to P14.4 billion next year, P15.9 billion the following year, P17.6 billion in 2021 and P19.5 billion by 2022. Earlier, Finance Secretary Carlos G. Dominguez III said that they were confident that Congress can pass the Duterte administration’s proposed TRAIN 1-B within the first three months of the year. Dominguez said that Package 1-B will no longer require approval of the House of Representatives, noting the remaining measures are already incorporated in the Lower Chamber’s approved tax reform version, House Bill No. 5636.
ADVERTISEMENT
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1561_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1562_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1563_widget.title }}

{{ item.title }}

{{ articles_filter_1564_widget.title }}

{{ item.title }}
.mb-article-details { position: relative; } .mb-article-details .article-body-preview, .mb-article-details .article-body-summary{ font-size: 17px; line-height: 30px; font-family: "Libre Caslon Text", serif; color: #000; } .mb-article-details .article-body-preview iframe , .mb-article-details .article-body-summary iframe{ width: 100%; margin: auto; } .read-more-background { background: linear-gradient(180deg, color(display-p3 1.000 1.000 1.000 / 0) 13.75%, color(display-p3 1.000 1.000 1.000 / 0.8) 30.79%, color(display-p3 1.000 1.000 1.000) 72.5%); position: absolute; height: 200px; width: 100%; bottom: 0; display: flex; justify-content: center; align-items: center; padding: 0; } .read-more-background a{ color: #000; } .read-more-btn { padding: 17px 45px; font-family: Inter; font-weight: 700; font-size: 18px; line-height: 16px; text-align: center; vertical-align: middle; border: 1px solid black; background-color: white; } .hidden { display: none; }
function initializeAllSwipers() { // Get all hidden inputs with cms_article_id document.querySelectorAll('[id^="cms_article_id_"]').forEach(function (input) { const cmsArticleId = input.value; const articleSelector = '#article-' + cmsArticleId + ' .body_images'; const swiperElement = document.querySelector(articleSelector); if (swiperElement && !swiperElement.classList.contains('swiper-initialized')) { new Swiper(articleSelector, { loop: true, pagination: false, navigation: { nextEl: '#article-' + cmsArticleId + ' .swiper-button-next', prevEl: '#article-' + cmsArticleId + ' .swiper-button-prev', }, }); } }); } setTimeout(initializeAllSwipers, 3000); const intersectionObserver = new IntersectionObserver( (entries) => { entries.forEach((entry) => { if (entry.isIntersecting) { const newUrl = entry.target.getAttribute("data-url"); if (newUrl) { history.pushState(null, null, newUrl); let article = entry.target; // Extract metadata const author = article.querySelector('.author-section').textContent.replace('By', '').trim(); const section = article.querySelector('.section-info ').textContent.replace(' ', ' '); const title = article.querySelector('.article-title h1').textContent; // Parse URL for Chartbeat path format const parsedUrl = new URL(newUrl, window.location.origin); const cleanUrl = parsedUrl.host + parsedUrl.pathname; // Update Chartbeat configuration if (typeof window._sf_async_config !== 'undefined') { window._sf_async_config.path = cleanUrl; window._sf_async_config.sections = section; window._sf_async_config.authors = author; } // Track virtual page view with Chartbeat if (typeof pSUPERFLY !== 'undefined' && typeof pSUPERFLY.virtualPage === 'function') { try { pSUPERFLY.virtualPage({ path: cleanUrl, title: title, sections: section, authors: author }); } catch (error) { console.error('ping error', error); } } // Optional: Update document title if (title && title !== document.title) { document.title = title; } } } }); }, { threshold: 0.1 } ); function showArticleBody(button) { const article = button.closest("article"); const summary = article.querySelector(".article-body-summary"); const body = article.querySelector(".article-body-preview"); const readMoreSection = article.querySelector(".read-more-background"); // Hide summary and read-more section summary.style.display = "none"; readMoreSection.style.display = "none"; // Show the full article body body.classList.remove("hidden"); } document.addEventListener("DOMContentLoaded", () => { let loadCount = 0; // Track how many times articles are loaded const offset = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]; // Offset values const currentUrl = window.location.pathname.substring(1); let isLoading = false; // Prevent multiple calls if (!currentUrl) { console.log("Current URL is invalid."); return; } const sentinel = document.getElementById("load-more-sentinel"); if (!sentinel) { console.log("Sentinel element not found."); return; } function isSentinelVisible() { const rect = sentinel.getBoundingClientRect(); return ( rect.top < window.innerHeight && rect.bottom >= 0 ); } function onScroll() { if (isLoading) return; if (isSentinelVisible()) { if (loadCount >= offset.length) { console.log("Maximum load attempts reached."); window.removeEventListener("scroll", onScroll); return; } isLoading = true; const currentOffset = offset[loadCount]; window.loadMoreItems().then(() => { let article = document.querySelector('#widget_1690 > div:nth-last-of-type(2) article'); intersectionObserver.observe(article) loadCount++; }).catch(error => { console.error("Error loading more items:", error); }).finally(() => { isLoading = false; }); } } window.addEventListener("scroll", onScroll); });
Join Our Newsletters

Sign up by email to receive news.

© 2025 Manila Bulletin The Nation's Leading Newspaper. All Rights Reserved.