Senate Approves Tax Reform Bill

Senate Approves Tax Reform Bill

About 6.8 million of the country’s 7.5 million individual income taxpayers would be exempt from paying income taxes starting January, but most Filipinos would pay more for fuel, sweetened beverages and electricity under a tax bill the Senate approved on third and final reading on Tuesday night. The Senate voted 17-1 to approve the Tax Reform Acceleration and Inclusion (TRAIN) bill, with Sen. Risa Hontiveros being the lone dissenter. Sen. Sonny Angara, chair of the ways and means committee, said the measure was expected to generate P100 billion to P130…