THE Department of Finance (DoF) belied the “erroneous and bloated computations” by critics regarding the impact of the revenue-enhancing provisions under the proposed Tax Reform for Acceleration and Inclusion Act (Train), saying the bill will provide a family of four earning P25,000 a month with an annual windfall of more than P15,000.

In a statement Tuesday, Finance Undersecretary Karl Kendrick Chua said the effects of reforms proposed in the value-added tax (VAT) and the excise tax system “will be minimal because complementary measures to mitigate any price increases arising from the tax adjustments are also provided under the bill.”

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