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    Train Law Impact

    Uploaded by

    DIvine Grace Palma
    The document discusses the impacts of the TRAIN Law on the Filipino people and economy. It enacted tax reforms aimed at promoting investment, jobs, and funding infrastructure projects. While it potentially benefits those earning less than 40,000 pesos per month through tax breaks and improved services, many sectors see it as a burden for the poor. The increased prices of goods have made it difficult for Filipinos to afford basic needs like food and housing. This financial stress has contributed to rising mental health problems as people struggle to find money to pay for necessities.

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    Download as PDF, TXT or read online from Scribd

    Train Law Impact

    Uploaded by

    DIvine Grace Palma
    23 views1 page
    The document discusses the impacts of the TRAIN Law on the Filipino people and economy. It enacted tax reforms aimed at promoting investment, jobs, and funding infrastructure projects. While it potentially benefits those earning less than 40,000 pesos per month through tax breaks and improved services, many sectors see it as a burden for the poor. The increased prices of goods have made it difficult for Filipinos to afford basic needs like food and housing. This financial stress has contributed to rising mental health problems as people struggle to find money to pay for necessities.

    Original Description:

    TRAIN LAW IMPACT ON FILIPINO PEOPLE

    Original Title

    TRAIN LAW IMPACT

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    The document discusses the impacts of the TRAIN Law on the Filipino people and economy. It enacted tax reforms aimed at promoting investment, jobs, and funding infrastructure projects. While it potentially benefits those earning less than 40,000 pesos per month through tax breaks and improved services, many sectors see it as a burden for the poor. The increased prices of goods have made it difficult for Filipinos to afford basic needs like food and housing. This financial stress has contributed to rising mental health problems as people struggle to find money to pay for necessities.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    23 views1 page

    Train Law Impact

    Uploaded by

    DIvine Grace Palma
    The document discusses the impacts of the TRAIN Law on the Filipino people and economy. It enacted tax reforms aimed at promoting investment, jobs, and funding infrastructure projects. While it potentially benefits those earning less than 40,000 pesos per month through tax breaks and improved services, many sectors see it as a burden for the poor. The increased prices of goods have made it difficult for Filipinos to afford basic needs like food and housing. This financial stress has contributed to rising mental health problems as people struggle to find money to pay for necessities.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Is imposing the TRAIN Law good or bad?

    What is the impact of the law on the lives and economy


    of the Filipino people? On December 19, 2017, Pres. Rodrigo R. Duterte signed the Tax Reform for
    Acceleration and Inclusion (TRAIN) as Republics Act No. 10963 which took effect on January 1,
    2018. The TRAIN law aims to make the Philippines Tax System simple, fairer, and more efficient to
    promote investments, create jobs, raise revenues that will fund the Build, Build, Build project that
    will sustain high and inclusive growth of the country, enhances education, health, and social
    services, and reduce poverty. But is this happening nowadays?

    The law itself has potential benefits, particularly for those earning Php 40,000 a month or less
    because they could have higher take-home pay and spending power; more efficient tax collection,
    and improving basic services, such as housing, education, and social protection. Along with these
    potential benefits are negative impacts, wherein, a lot of sectors believed that this law is a
    “burden” for poor people who are mostly reducing their budget, particularly food and utility bills,
    for them to survive since there are other things that require more money and underlying debts.
    The increase in prices of sweetened beverages and other commodities created difficulties for
    Filipinos in meeting their basic need. Worries about not being able to provide their family healthy
    food, living in comfortably structured homes, and spiraling loans contributed also to mental health
    problems of people. Stress, anxiety, and depression are effects of trying to find alternative ways
    and additional money to pay for the higher price of goods.

    The difficulties of trying to manage on very low income for a sustained period and having
    financial burden on family and friends are perceived effects of TRAIN Law wherein, it makes the
    poor the poorest.

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