TRAIN Law may affect zero VAT privilege of freeports

MARIVELES, Bataan: A provision in the Tax Reform for Acceleration and Inclusion (TRAIN) Law may affect the Zero Value Added Tax (VAT) privilege of registered locators in the country’s freeports and economic zones, the chairman of the Freeport Area of Bataan (FAB) said on Wednesday.

“The effect of the TRAIN Law on locators depends on the second package which covers investments. The first package focuses more on how to increase the take home pay of employees and higher collections for the Bureau of Internal Revenue,” FAB chairman Emmanuel Pineda said.