Potential revenues from the proposed Package 1B of the government’s Comprehensive Tax Reform Program (CTRP) could hit P106.7 billion by the end of 2021, data from the Department of Budget and Management showed.
Package 1B, which covers a proposed tax amnesty, bank secrecy laws, and Motor Vehicle Users Charge (MVUC) adjustments, is a complement to the Tax Reform for Acceleration and Inclusion (Train) law passed last December and implemented at the start of 2018.
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