DOF chief welcomes final tax reform bill
MANILA – The Department of Finance welcomed on Thursday the final version of the first tax reform package despite changes introduced by the members of the bicameral conference committee.
Among the provisions that were not originally proposed by the DOF, but inserted in the final Tax Reform for Acceleration and Inclusion (TRAIN) bill, include the increase in excise taxes on coal, minerals, tobacco, and the introduction of a cosmetic levy.
The bicam-approved final version of the TRAIN bill raised the coal excise tax rate from P10 per metric ton to P50 per metric ton in the first year of implementation, P100 in the second year, and P150 in the third and succeeding years.
It said the P10 coal excise tax rate has remained unchanged since 1988 while the local
has been exempted from paying excise tax since 1976.
The bicam-approved final version did not have value added tax on coal.
The P10 coal excise tax rate has remained unchanged since 1988 while the local industry has been exempted from paying excise tax since 1976.
Asked if the insertion of the coal tax could pose a legal question later on as this provision did not originate from the lower
further augmentation for what House, Finance secretary Carlos Dominguez III said the levy is not considered a new tax.
He said lawmakers only adjusted the three-decade old coal tax rate.
“That issue was never brought up and besides it’s not a new tax. Coal is currently taxed at P10 per metric ton so it is actually only adjustment of a tax already existing,” Dominguez said.
“I think what that [Constitution] refers to is a totally new tax cannot
called a “low” minimum wage for those covered by the pay hike, which includes the following: “general househelp; yaya; cook; gardener; laundry person or any person who regularly perform domestic work in one household on an occupational basis.”
The Labor secretary also clarified that the increase of P1,000 is only required for employers who gave their domestic employees the previous minimum wage of P2,500.
Violators of the new rule will be fined not less than P10,000 but not more than P40,000 “without be introduced other than by the House of Representatives, however, if the tax already exists, they can adjust it,” he added.
Aside from coal, the final bill also doubled the tax rates of all non-metallic minerals and quarry resources, as well as metallic minerals including copper, gold and chromite from the current 2 percent to 4 percent; and on indigenous petroleum from the current 3 percent to 6 percent. prejudice to the filing of the appropriate civil and/or criminal action by the aggrieved party.”
The increase will be effective 15 days after the order is published in a newspaper of general circulation, according to the RTWPB-NCR.
Bello said he told the Board to “be more sensitive” when studying wage increases for domestic workers, and to consider a “higher increase or adjustment” for them since employers could likely afford it. “‘
Yung kumukuha ng convenience ‘ kasambahay,kayaniyangmagbigay, necessity kasi yan eh. ‘Di naman kasambahay,” he said.
‘yung kailangan mo ng “Kung wala kang kakayahan kasambahay,” he added. talaga, ‘ di ka kukuha ng
The Labor secretary also encouraged domestic workers with concerns to make use of the Department of Labor and Employment’s 24/7 hotline: 1349. ( News)
GMA The lawmakers also decided to increase the rates of the tobacco excise tax from the present P30 per pack to P32.5 in the first half of next year and to P35 starting July 2018 to December 2019.
Between 2020 and 2021, the tobacco excise taxes will further rise to P37.5 and from 2022 to 2023, the rate will increase to P40.
From 2023 onwards, the levy on cigarettes will jump 4 percent annually. (