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TAX REFORM

  • BB2022-02: The Proposed FY 2023 National Budget and the Medium-Term Revenue Program

    This Budget Brief starts with a discussion on the FY 2022-2028 Medium-Term Fiscal Framework and the Medium-Term Fiscal Program, with the latter establishing the fiscal consolidation strategy of the government.  Revenue projections from 2022-2028 are juxtaposed with the 30-year actual revenue performance to give context to what the revenue targets mean historically.  Medium-term revenue forecasts are also provided based on three alternative scenarios placed side by side with Development Budget Coordinating Committee (DBCC) revenue targets.

  • FF2020-24: REVENUE IMPACT OF TRAIN LAW ON 2019 BIR COLLECTIONS

    Republic Act No. 10963, otherwise known as the Tax Reform for Acceleration and Inclusion or TRAIN 1, was signed into law on 19 December 2017. It is the first component of a comprehensive reform package which seeks to make the tax system simpler, fairer, and more efficient in order to generate more sustainable revenues that will support government infrastructure projects, public investments, and social services.