MAGDALO Party-List Representative Gary Alejano on Sunday, May 27, reiterated his call for the immediate review of the Tax Reform for Acceleration and Inclusion (Train) law amid the series of oil price hikes.
“We saw a big-time oil price hike last week which is the biggest soar this year so far. It is expected that this would continue with Department of Energy warning the public of possible hikes in the coming weeks," Alejano said.
"Given the scenario, it is urgent that we review Train and if necessary suspend the implementation of the excise tax,” Alejano added.
The opposition lawmaker also suggested that the deliberation on the second package of Train be suspended pending the conclusion on the review of the first Train law.
The House committee on ways and means at the House of Representatives last week began its deliberation on the Train 2 bill.
The bill, filed by administration lawmakers Representatives Dakila Carlo Cua, Aurelio Gonzales Jr. and Raneo Abu, among others, aims to reduce the corporate income tax and reform the investment incentives system in the country.
“We have yet to assess the impact of the first package. We cannot rush into the second one as this may complicate the present situation. Let us resolve first the existing questions and issues on Train before proceeding with the implementation of the second package," Alejano said.
The president signed in December last year the first tax reform package that resulted to lower personal income taxes but higher taxes on fuel, cars and sugary beverages, among others.
Revenues from the tax reform law are meant to fund the Duterte government's Build Build Build program. (Keith A. Calayag/SunStar Philippines)