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 Post subject: TRAIN is a DISASTER!!!
PostPosted: Fri Jan 12, 2018 1:59 am 
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Philippines is heading to an economy collapse aided by the TRAIN!!!
TRAIN is not only the reason, but it fast forward the collapse of Philippine Economy!
Spending is unsustainable... government wages getting doubled, pension for all, free education and free food etc..

and now, we have TRAIN that will suck out the working people. The poor people are the one who will be affected most!
I see unemployment rising! I see more hunger and social instability.

Philippines will be the next Venezuela!!!

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PostPosted: Fri Jan 12, 2018 9:55 am 
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I should have bought a lot of groceries last december, should have a full gas tank. At least to ease the pain. The people I talked to at the grocery store this month, was surprised about the sudden price increase with the items in the grocery and just about anything.

some complain about their suffering openly. some suffer... in silence.

Change is coming.

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PostPosted: Fri Jan 12, 2018 10:02 am 
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parang religion lang.... end of days...


repent!!!


sigaw nung mama sa kalye...


REPENT!!!

REPENT!!!









REPENT!!! mura lang wampipty per skwir poot!






Repaint pala...

:lol: :lol: :lol:

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PostPosted: Fri Jan 12, 2018 10:13 am 
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Inflation may rise as high as 4% due to TRAIN, says Lacson
By: Maila Ager - Reporter / @MAgerINQ
INQUIRER.net / 05:05 PM January 11, 2018

Citing his talks with former and incumbent Bureau of Internal Revenue (BIR) officials, Senator Panfilo Lacson warned on Thursday that inflation could rise as high as 4 percent because of the new Tax Reform for Acceleration and Inclusion Act (TRAIN) law.

“Let’s wait for the time na talagang mag-take effect o mafe-feel ng mga tao ‘yung positive or negative effect ng passage ng TRAIN,” Lacson said at a regular forum in the Senate when sought for reaction on the reported price increases caused by the new law.

(Let’s wait for the time when it takes effect or when people feel either the positive or negative effect of the passage of TRAIN.)


But while the National Economic Development Authority (Neda) claimed that the impact of the law on inflation was only 1 percent by yearend, he said his discussion with former and incumbent BIR officials as well as topnotch accountants showed otherwise.

“Well I’ve talked to some BIR officials mismo — former and incumbent officials, I’ve talked to several topnotch accountants — ang estimate nila between 2 and 4 percent ang tatama sa inflation,” Lacson said.

“Yung inflationary effect talagang mafe-feel ito. Why? Kasi unang una yung sa fuel. Ngayon pa lang nagtataasan na. Yung Meralco sabi nila magbababa sa Enero. Jan. 11 na tayo e pero Pebrero magtataas sila dahil may impact din sa fuel kasi gumagamit ng fuel,” he pointed out.

(The inflationary effect will really be felt. Why? Because first of all, the fuel prices. Even now, they’re rising. Meralco said their bills will be lower in January. It’s the 11th today, but in February they will raise their prices because there will be an impact on fuel because they use fuel.)


At present, he said the inflation rate was 3.2 percent.

“Pagka ‘yung increment na 4 or 3 (percent) pumatong doon, papalo na tayo ng mga 5 (percent) sa inflation. Medyo mataas yun. Medyo alarming yan kung aabot tayo ng mga 6 (percent),” said the senator.

(When the increment of 4 or 3 percent goes on top of that, we will then have 5 percent inflation. That’s quite high. It’s alarming when we reach 6 percent.)


Lacson, member of the majority bloc, was among the four senators who voted against the measure in December last year.

The three others were Senators Bam Aquino, Risa Hontiveros and Antonio Trillanes IV, who all belong to the minority group. /je

Read more: http://newsinfo.inquirer.net/959374/lac ... z53vrucWuF
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PostPosted: Fri Jan 12, 2018 10:15 am 
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2017 inflation hit 3-year high of 3.2%
By: Ben O. de Vera - Reporter / @bendeveraINQ
Philippine Daily Inquirer / 02:42 PM January 05, 2018

Inflation rose to a three-year high of 3.2 percent in 2017 mainly as the prices of food and utilities as well as transportation costs increased faster last year, the government reported Friday.

In a report, the Philippine Statistics Authority (PSA) said headline inflation in December went up 3.3 percent year-on-year, similar to the rate posted in November but higher than the 2.6 percent recorded in December 2016.

Amid the Christmas holiday season, PSA data showed that prices of alcoholic beverages and tobacco rose 6.4 percent year-on-year last month; food and non-alcoholic beverages, up 3.5 percent; restaurant and miscellaneous goods and services, up 3 percent; and furnishing, household equipment and routine house maintenance, up 1.9 percent.

For the entire 2017, the average rate of increase in prices of basic goods jumped from 1.8 percent in 2016 as well as the record-low 1.4 percent in 2015.

The low inflation rates in the two preceding years, which fell below the government’s yearly target range of 2-4 percent, reflected the impact of the sharp drop in global oil prices during the period.

As the price of oil normalized worldwide, domestic prices of housing, water, electricity, gas and other fuels increased 3.2 percent in 2017, reversing the 0.2-percent decline in 2016, PSA data showed.

The PSA said six other commodity groups also registered faster price increases last year, namely: alcoholic beverages and tobacco (up 6.2 percent); food and non-alcoholic beverages (up 3.7 percent); transport (up 3.3 percent); restaurant and miscellaneous goods and services (up 2.2 percent); furnishing, household equipment and routine maintenance of the house (up 2.1 percent); and communication (up 0.2 percent).

The food alone index rose 3.7 percent in December and increased by a faster 3.8 percent for the full-year 2017, higher than 2016’s 2.6 percent.

Last year, fish prices jumped by a tenth; corn, up 7.2 percent; meat, up 5.9 percent; fruits, up 4.2 percent; other cereals, flour, cereal preparation, bread, pasta and other bakery products, up 1.9 percent; and rice, up 1.1 percent.

Despite the pick up in consumer prices, the state planning agency National Economic Development Authority noted that the average inflation rate in 2017 was well within the 2-4 percent target.

“We see inflation over the near term to remain stable despite pressures that may be brought about by the newly enacted TRAIN program, weather patterns, and uncertainties in international oil markets,” said Socioeconomic Planning Secretary Ernesto M. Pernia, referring to the Tax Reform for Acceleration and Inclusion Act (TRAIN).

President Duterte last Dec. 19 signed into law package 1A of the TRAIN, which starting January 1 this year slashed and restructured personal income tax rates that stayed the same for two decades, while also jacking up or slapping new taxes on the consumption of oil, cigarettes, sugary drinks and vehicles.

“To relieve the inflationary effects of the TRAIN, the government needs to prioritize amending domestic laws that will end quantitative restrictions on rice and replace them with tariffs,” Pernia said.

“This measure will remove the policy uncertainty in rice trade and thus encourage more investments in production and post-production innovation. The revenues from the tariff can be used to fund or subsidize such innovations,” the Neda chief explained.


Bangko Sentral ng Pilipinas and Department of Finance estimates had shown that removing the rice import quota and instead slapping a 35-percent tariff on the Filipino food staple would offset the increase in inflation resulting from the TRAIN.

“In the meantime, efforts must be made to strengthen the resiliency of farmers from extreme weather conditions to maintain the stability of food prices. One is by shifting to climate change-ready rice varieties,” according to Pernia.

Also, “any increases in prices in the first few months of 2018 will be tempered by the expected decline in power rates as capacity fees from power generators fell due to fewer power outages,” the Neda chief said.

“The timely implementation of the ‘Build, Build, Build’ program will also be critical in bringing down electricity and transportation costs over the medium term,” he added.

Under the ambitious “Build, Build, Build,” the government plans to roll out 75 flagship, “game-changing” projects, with about half targeted to be finished within President Duterte’s term, alongside plans to spend up to P9 trillion on infrastructure until 2022 to usher in “the golden age of infrastructure.”

Read more: https://business.inquirer.net/243567/20 ... z53vsUWwyh
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PostPosted: Fri Jan 12, 2018 10:44 am 
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NEW TAX RATES

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https://www.pinoymoneytalk.com/monthly-salary-tax-calculator-tax-reform/

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PostPosted: Fri Jan 12, 2018 10:54 am 
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1. New Personal Income Tax Rates

Personal income tax rates will be lowered, while salaried employees earning annual income of P250,000 or below will be exempted from paying income taxes.

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Full details of the new income tax rates and tax tables can be found here.


2. Lower Tax Rates for Professionals

With the revised personal income tax table, salaried employees will surely benefit from the lower tax rate. Self-employed professionals, meanwhile, can expect to pay lower taxes as well with the reduced tax rates for professionals, as follows:
Annual Sales or Gross Receipts Tax Rate
P250,000 and below 0%
Below P3 million May choose either 8% flat tax on gross receipts or follow personal income tax table
Above P3 million Subject to personal income tax table


Professionals will no longer have to file and pay the percentage tax; instead they will be charged a withholding tax of 8% flat rate on gross sales or receipts.

Self-employed professionals earning annual income of P3 million and below may choose to pay the 8% flat tax or follow the personal income tax table.


3. Tax on 13th Month Pay and Other Bonuses

The threshold for tax exemption on 13th month pay and other bonuses received by salaried employees has been raised from the current P82,000 to P90,000. This means 13th month pay and bonuses paid to employees that amount to P90,000 or below will not be taxed.


4. Tax on Drinks using Sugar and Caloric / Non-Caloric Sweeteners

Beverages that use sugar and other sweeteners will be taxed effective January 2018. These include softdrinks and other cola drinks, fruit juices, and powdered drinks, among others.

The sugar tax is as follows:
P6.00 per liter of drink that uses caloric and non-caloric sweeteners
P12.00 per liter of drink that uses high fructose corn syrup (HFCS)

5. Tax exemption of milk, 3-in-1 coffee, medicines for diabetes, etc.

Exempted from the sugar tax are milk, 3-in-1 coffee, 100% natural fruit juice or vegetable juice, medically-indicated beverages, and drinks and beverages that use natural sweeteners such as coco sugar or stevia.

Meanwhile, drugs and medicines prescribed for diabetes, high cholesterol, or hypertension will also be exempted from the 12% VAT.


6. Taxes on LPG, Diesel, Gasoline, and other fuel products

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Liquefied Petroleum Gas or LPG is currently not taxed, but will be charged excise tax as follows:

P1.00 tax per liter in 2018
P2.00 tax per liter in 2019
P3.00 tax per liter in 2020


Diesel is also currently not taxed, but will have new taxes, as follows:

P2.50 tax per liter in 2018
P4.50 tax per liter in 2019
P6.00 tax per liter in 2020


Gasoline, both regular and unleaded, will have the following excise taxes raised from the current P4.35 per liter:

P7.00 tax per liter in 2018
P9.00 tax per liter in 2019
P10.00 tax per liter in 2020


Other fuels and oil products will be taxed as follows:

Aviation gas – P4.00 per liter
Asphalts – P8.00 per kilo
Kerosene – P3.00
Naphtha – P7.00
Bunker fuel – P2.50
Lubricating oil – P8.00
Paraffin wax – P8.00
Petcoke – P2.50


UPDATE: Pres. Duterte has vetoed the exemption from excise taxes of petroleum products used as input, feedstock, or as raw material in the manufacturing of petrochemical products, or in the refining of petroleum products, or as replacement fuel for natural gas fired combined cycle power plants.

7. Taxes on Cars and Automobiles

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The new excise taxes for cars will follow a four-tier scheme:
Excise Tax on Cars and Automobiles
Net Manufacturer's Price Tax Rate on Hybrid Cars Tax Rate on Non-Hybrid Cars
P600,000 and below 2% 4%
Above P600,000 to P1 million 5% 10%
Above P1 million up to P4 million 10% 20%
Above P4 million 25% 50%

Pick-up trucks and electric vehicles will be exempted from additional taxes. Hybrid cars, as seen in the table above, will be charged 1/2 (half) the taxes imposed on non-hybrid automobiles.

8. Tax on Coal

The approved excise tax on coal is as follows (currently P10.00 tax per metric ton):

P50.00 tax per metric ton in 2018
P100.00 tax per metric ton in 2019
P150.00 tax per metric ton in 2020


9. Tax on Tobacco Products

Excise taxes on tobacco products will be increased to P32.50 initially during the first six months of 2018, then will rise to P35.00 from the rest of 2018 until 2019.

From 2020 to 2021, the tobacco tax will rise to P37.50, followed by a fixed tax of P40.00 to be imposed from 2022 to 2023. From 2023 onwards, tobacco taxes will rise 4% annually.

10. Donor’s Tax

Donations or gifts with at least P250,000 worth will be charged a donor’s tax of 6% flat rate. This will be charged regardless of the relationship between the donor and the donee.

11. Estate Tax

The estate tax, or tax levied on the properties or estate of lawful heirs and beneficiaries inherited from a deceased person, will now be subject to a flat rate of 6% on the amount in excess of P5 million.

Estates with a net value of P5 million and below will be exempted from paying the estate tax. Family homes that are valued at P10 million or less will also be exempted from estate tax. Under existing tax laws, only family homes worth P1 million are exempted.

12. Tax on Cosmetic Surgery and other Aesthetic Procedures

Starting 2018, there will be a 5% tax on cosmetic surgeries, aesthetic procedures, and body enhancements.
13. Documentary Stamp Tax

The documentary stamp tax (DST) charged on some legal or business transactions will double from P1.50 to P3.00 beginning 2018.

14. Stock Transaction Tax

Stock trading in the Philippines might be affected with the revised taxes on stock market activity.

The stock transaction tax — a tax charged on stock sellers when a buy or sell transaction is made — will be increased to 0.6% of the gross trade amount from the current 0.5% rate.

Stock-related transactions of companies not listed in the Philippine Stock Exchange (PSE) will be slapped with a higher stock transaction tax of 15%, an increase from the current 5% or 10%.

15. Foreign Currency Interest Income Tax

The tax on interest income on foreign currency deposits is currently pegged at 7.5%. This will increase to 15% of the interest on foreign currency deposit unit (FCDU) under the TRAIN tax reform.

List of Vetoed Items by Pres. Duterte

Here are five (5) items in the tax reform bill that was vetoed by Pres. Duterte when he signed the bill into law.

Veto on the 15% special tax rate for employees of Regional Headquarters (RHQ), Regional Operating Headquarters (ROHQ), Offshore Banking Units, and Petroleum Service Contractors and Subcontractors. Thes employees will be taxed using the regular income tax table as shown in Item No. 1 above.
Veto on the exemption of self-employed professionals, with gross sales or receipts not exceeding P500,000, from the payment of the 3% percentage tax.
Veto on the excise tax exemption of petroleum products used as input, feedstock, or as raw material in the manufacturing of petrochemical products, or in the refining of petroleum products, or as replacement fuel for natural gas fired combined cycle power plants (see Item No. 6 above).
Veto on the zero rating of sales of goods and services to separate customs territory and tourism enterprise zones, specifically, the areas under the Tourism Infrastructure Enterprise Zone Authority (Tieza).
Veto on the earmarking of incremental tobacco taxes


https://www.pinoymoneytalk.com/philippine-tax-reform-list-of-new-taxes/

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PostPosted: Fri Jan 12, 2018 10:55 am 
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I will reserve my judgement after a year..
For now let this law be implemented..
Masakit dahil medyo may increase sa tax pero let it be in the meantime...

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PostPosted: Fri Jan 12, 2018 10:59 am 
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Ano kaya masasabi ni Renato "Mr. PuRe" Reyes dito? :biglaugh:

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PostPosted: Fri Jan 12, 2018 11:00 am 
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Dahil sa tax sa fuel tataas ang bilihin?
For me that's a lame excuse...

Diesel in 2011 is around 44-45 pesos per liter.
2013 nasa 45-46 pesos per liter.
Ngayon kahit may TRAIN, nasa 35-40 pesos ang range...

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PostPosted: Fri Jan 12, 2018 11:06 am 
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JABEZJ wrote:
Dahil sa tax sa fuel tataas ang bilihin?
For me that's a lame excuse...

Diesel in 2011 is around 44-45 pesos per liter.
2013 nasa 45-46 pesos per liter.
Ngayon kahit may TRAIN, nasa 35-40 pesos ang range...



Umabot nga noong panahon ni fvr na pipty pesos + yung diesel. So far nakaraos naman ang minamahal nating pinas

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PostPosted: Fri Jan 12, 2018 11:07 am 
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IceColdBeer wrote:
Ano kaya masasabi ni Renato "Mr. PuRe" Reyes dito? :biglaugh:



Mag wewelga yun malamang
Isali ba naman sa pagtaas ng excise tax ang peyborit nyang mcfloat :lol:

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PostPosted: Fri Jan 12, 2018 11:14 am 
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c/o TopGearPhil: https://www.topgear.com.ph/news/car-news/toyota-2018-prices-a00187-20180104?ref=article_related

some pricier models costs less than the cheap ones now than last year...

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PostPosted: Fri Jan 12, 2018 11:17 am 
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JABEZJ wrote:
I will reserve my judgement after a year..
For now let this law be implemented..
Masakit dahil medyo may increase sa tax pero let it be in the meantime...


Yep. Let's observe

Wag muna magreact negatively at wala pa naman one month.


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PostPosted: Fri Jan 12, 2018 11:21 am 
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mas marami ang mga pinoy na sumasahod below 250k annually
para mas maraming masaya= maraming pabor kay Pangulong digong

on the other hand ibang usapan din iyong epekto nito
pero tingnan muna natin ang resulta nito

kailangan lang ma control ni pangulong digong ang mga mayayaman
na negosyante sa sobrang pagtaas ng bilihin at serbisyo.

ang problema nga lang gaya ng sabi ni mang adme baka magbawas ng empleyado mga companya?

parang ok narin iyong dating systema ng tax kung ako tatanungin

sana maganda nalang ang resulta ng TRAIN

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