ATTY. PEACHES ARANAS

JUST a few weeks ago, we discussed House Bill (HB) 8083, or the Tax Reform for Attracting Better and High-quality Opportunities (Trabaho) bill, which the House of Representatives approved on third and final reading on September 10. The Trabaho bill is the second phase of Republic Act (RA) 10963, or the Tax Reform for Acceleration and Inclusion (Train) Act. The first phase of RA 10963 — Train 1 — reduced income tax rates for individuals, but also imposed new excise taxes on diesel, liquefied petroleum gas, kerosene and bunker fuel.

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