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Tag: Rowena Angela C. Salanga

Clarifying the cost of filing an amended tax return

On Dec. 19, 2017, President Rodrigo R. Duterte signed into law Republic Act No. 10963, or the Tax Reform for Acceleration and Inclusion (TRAIN) Act. In a speech made after the signing, the President said the TRAIN Act “is the administration’s biggest Christmas gift to the Filipino people, as 99% of the taxpayers will benefit from the simpler, fairer and more effective tax system.”