The government’s tax reform plans under House Bill (HB) 4774 earmarks some P48 billion for targeted transfers that would benefit the bottom 50 percent of the population in its first year of implementation, the Department of Finance said in a statement.

The targeted transfers would shield poor households from the impact of the fuel excise tax adjustment and other revenue compensating measures under the bill, Finance Undersecretary Karl Kendrick Chua claimed in the statement.

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