President Rodrigo Duterte is set to sign into law this afternoon bills pertaining to the 2018 national budget and his administration's tax reform package.
The country's budget for next year is P 3.77 trillion, reflecting an increase of 12 percent compared to the current year.
As expected, the Department of Education (DepEd) gets the biggest allocation at P 553 billion.
The Department of Interior and Local Government (DILG) has a share of P 170 billion.
The Department of National Defense (DND) has been given P 149 billion.
The allocation for the Department of Social Welfare and Development (DSWD) is P 141 billion.
The second measure is called the Tax Reform for Acceleration and Inclusion (TRAIN).
It is meant for the administration's 'Build Build Build Program.'
The TRAIN bill also exempts from paying personal income tax those who have an annual income of P 250,000 or less.
The measure also reduces the income tax rates for those who are earning P 2 million and below in a year.
Once signed, this piece of legislation will become effective on day 1 of next year.
