Train Package 1 a step toward good fiscal policy

PRESIDENT Rodrigo Duterte finally signed into law on Tuesday the first package of his government’s proposed tax reform measures under the Tax Reform for Acceleration and Inclusion (Train) plan. Overall, it is a step toward good fiscal policy, despite some last-minute criticisms before the signing of the bill.

The criticisms centered on the tax exemption given to locally produced coal, which will benefit Semirara Mining of the Consunji group, practically the only domestic source of coal; and the restructuring of excise taxes on motor vehicles.