EVEN non-taxpayers will benefit from the Tax Reform for Acceleration and Inclusion Act through more job creations and better infrastructure that will lower the transport and distribution costs of goods and improved services, Finance Secretary Carlos Dominguez III said over the weekend.
Dominguez said even those not paying taxes would benefit from the first package of the Duterte administration’s Comprehensive Tax Reform Program because of higher spending for education, health care and other forms of human capital development that would help set the foundation to lift themselves out of the poverty trap.
Also, up to 30 percent of the incremental revenues from the TRAIN will help fund a targeted cash transfer program for the country’s poorest 10 million households to aid the bottom 50 percent of the population in coping with the initial effects of the tax reform law on the prices of basic necessities.
