Ericka B.

Castillo

Train Law Proposal

1. Increased take-home money and

bonuses
Increase the tax of fuels and Beverage.
2. Excise on sugar-sweetened beverage and
cigarettes

13th Month Pay in the Philippines: 3. Increase on petroleum and automobile

Mandatory. tax

4. Estate tax, donor tax and Higher

Documentary Stamp Tax

5. No more tax exemption in lotto winnings

and some cosmetic procedures

Proposal:

To make tax incentives performance-based;

To make tax incentives targeted to priority industries;

To make tax incentives targeted to priority areas;

To make tax incentives time-bound;

To make tax incentives transparent;

To reduce the abuse of transfer pricing;

To improve governance in the grant of tax incentives through the Fiscal Incentives Review Board (FIRB);