TRAIN Tax Law thread

[chronicle]

TRAIN pa.

"Earlier, the DOF said Package 3 of the CTRP will focus on the valuation of real estate property and the rationalization of property-related taxes and fees.

Package 4 seeks to rationalize tax on interest income earned from peso deposits and investments; dollar deposits and investments; and dividends, equity, fixed income securities, and other investments."

Tax reform Package 3, 4 to be submitted this month | Philstar.com


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[uls]

Tumahimik si angara. Siya ang spokeman ng train dati ah. [emoji23] [emoji109][emoji2533]


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sobra bad image kasi ang train

everybody's blaming it for skyrocketing prices

[jvsencio129]

The peso's weakness along with the stock market is not due to train law but the build3x program of the government. It is depleting our dollar reserves thus lowering the value of our peso and higher inflation. The gov't need to slow down for a little while and not push too much of this build2x program. The other issue that should be considered is to remove or suspend the tax on gasoline and/or diesel fuels.

[Ketib]

The peso's weakness along with the stock market is not due to train law but the build3x program of the government. It is depleting our dollar reserves thus lowering the value of our peso and higher inflation. The gov't need to slow down for a little while and not push too much of this build2x program. The other issue that should be considered is to remove or suspend the tax on gasoline and/or diesel fuels.

But many are complaining on started projects, kasi mabagal daw. Now saan tayo?

[uls]

The peso's weakness along with the stock market is not due to train law but the build3x program of the government. It is depleting our dollar reserves thus lowering the value of our peso and higher inflation. The gov't need to slow down for a little while and not push too much of this build2x program. The other issue that should be considered is to remove or suspend the tax on gasoline and/or diesel fuels.

exactly why the threadstarter's comment doesn't make sense

The state of the peso has never been weaker....


Train 2 should be scrapped — Recto - The Manila Times Online

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jvsensio129

yes the weak PHP is due to strong dollar demand from importers

more dollars flowing out than coming in

build3x is bad timing

[StockEngine]

I'm driving cant type too long [emoji6]

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[uls]

still doesn't make sense


posting a Train law article and commenting about the weak peso

[uls]

TRAIN has so many effects like higher pump prices, lower or zero income tax, higher prices on new cars, higher prices on sugary drinks

TRAIN2 corporate income tax cut, no more tax incentives etc

any one of those would be more suitable

[uls]

The peso's weakness along with the stock market is not due to train law but the build3x program of the government. It is depleting our dollar reserves thus lowering the value of our peso and higher inflation. The gov't need to slow down for a little while and not push too much of this build2x program. The other issue that should be considered is to remove or suspend the tax on gasoline and/or diesel fuels.

this is what Indonesia did to slow down the widening of its currency account deficit

Terms of Service Violation

Indonesia plans to delay $25 billion worth of power projects as it seeks to rein in a widening current-account deficit and a selloff in the nation’s currency.

The government will delay almost half of the planned 35 gigawatts of electricity projects as it wants to ease pressure on imports, Energy and Mineral Resources Minister Ignasius Jonan told reporters in Jakarta on Tuesday. The deferment may help reduce imports of about $8 billion to $10 billion, he said.

this is like if the Philippines suspends build3x to slow down imports

to slow down depletion of dollar reserves

[minicarph]

Im for the TRAIN law kasi basahin nyo mabuti kung ano ang benefits neto satin. I see the wisdom of the train law.

[StockEngine]

House gives final approval to TRAIN 2 bill | Philstar.com

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[dreamur]

House gives final approval to TRAIN 2 bill | Philstar.com

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Hopefully will be replaced with china-owned factories.

Japan firms poised to pull out of PH | Inquirer Business

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[StockEngine]

Hopefully will be replaced with china-owned factories.

Japan firms poised to pull out of PH | Inquirer Business

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yikes!

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[travajante]

Doom looms.[emoji17]

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[chronicle]

Hopefully will be replaced with china-owned factories.

Japan firms poised to pull out of PH | Inquirer Business

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Oh no. Pretty sure japan aint the only one.

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[StockEngine]

fkkk

Peso seen at P58 on wider ’19 trade gap | Inquirer Business

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[minicarph]

fkkk

Peso seen at P58 on wider ’19 trade gap | Inquirer Business

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ang natatakot lang ako sa dollar exchagne ngaun eh presyo ng Iphone XS Max, yan lang kasi bibilhen ko na mportante mportante sakin until the end of the eyar

[_Qwerty_]

as per BIR memorandum circular 50-2018.. Company HMO paid by employers are now part of the 90T threshold for bonuses.. in excess of 90T.. taxable na..

example:

13th month pay = 50T
other bonus = 20T
HMO with 1 dependent (paid by employer) = 25T each x 2 = 50T
Total = 120T - 90T = 30T taxable



https://www.bir.gov.ph/images/bir_fi...%2050-2018.pdf

[dreamur]

as per BIR memorandum circular 50-2018.. Company HMO paid by employers are now part of the 90T threshold for bonuses.. in excess of 90T.. taxable na..

example:

13th month pay = 50T
other bonus = 20T
HMO with 1 dependent (paid by employer) = 25T each x 2 = 50T
Total = 120T - 90T = 30T taxable



https://www.bir.gov.ph/images/bir_fi...%2050-2018.pdf

We are now scrambling to calculate the impact as it is almost year end. How do you soften the impact to the employees? Deduct against 13th month pay? Installment? What about company shouldering as part of fbt?

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[_Qwerty_]

sa amin, one time deduction sa 13th month pay.. kung 25T ang HMO eh di additional 7500 more or less on tax.. kung excess na sa 90T threshold.

We are now scrambling to calculate the impact as it is almost year end. How do you soften the impact to the employees? Deduct against 13th month pay? Installment? What about company shouldering as part of fbt?

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