Bill Type
Congress Name
Long Title
FULL TITLE : AN ACT AMENDING SECTIONS 20, 22, 27, 28, 34, 40, 50, 73, 112, 119, 203, 204, 220, 222, 228, 237, 237-A, 248, 254, 255, 256, 257, 258, 259, 260, 261, 262, 263, 264, 265, 266, 275, 290, 291, 292 AND ADDING SECTIONS 293, 294, 295, 296, 297, 298, 298-A, 299, 300, 301, 302, 303, 304, 305, AND 306 UNDER CHAPTERS I, II, III, IV, V AND VI, ALL UNDER THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED, AND FOR OTHER PURPOSES
Text as filed (link)
Date filed
March 21, 2018
Scope
Legislative History
| House Bill/Resolution NO. HB07458 |
| FULL TITLE : AN ACT AMENDING SECTIONS 20, 22, 27, 28, 34, 40, 50, 73, 112, 119, 203, 204, 220, 222, 228, 237, 237-A, 248, 254, 255, 256, 257, 258, 259, 260, 261, 262, 263, 264, 265, 266, 275, 290, 291, 292 AND ADDING SECTIONS 293, 294, 295, 296, 297, 298, 298-A, 299, 300, 301, 302, 303, 304, 305, AND 306 UNDER CHAPTERS I, II, III, IV, V AND VI, ALL UNDER THE NATIONAL INTERNAL REVENUE CODE OF 1997, AS AMENDED, AND FOR OTHER PURPOSES |
| ABSTRACT : Complements the Tax Reform for Acceleration and Inclusion Act (TRAIN - R.A.No.10963) by further addressing the inequality in our taxation system; Proposes the lowering of corporate income tax rate, reforming the corporate income tax system, broadening the tax base by modernizing investment tax incentives, removing excessive tax exemptions and privileges given to certain industries, and limiting the grant of tax incentives to strategic industries and lagging regions. |
| ALIAS NAME : TRAIN 2 |
| PRINCIPAL AUTHOR/S : CUA, DAKILA CARLO E., ABU, RANEO "RANIE" E., GONZALES, AURELIO "DONG" JR. D. |
| DATE FILED : 2018-03-21 |
| SIGNIFICANCE: NATIONAL |
| ACTIONS TAKEN BY THE COMMITTEE |
| MOTHER BILL: HB08083 |
| ACTIONS TAKEN BY THE COMMITTEE ON RULES |
| REFERRAL TO THE COMMITTEE ON WAYS AND MEANS ON 2018-05-15 |
Abstract
Complements the Tax Reform for Acceleration and Inclusion Act (TRAIN - R.A.No.10963) by further addressing the inequality in our taxation system; Proposes the lowering of corporate income tax rate, reforming the corporate income tax system, broadening the tax base by modernizing investment tax incentives, removing excessive tax exemptions and privileges given to certain industries, and limiting the grant of tax incentives to strategic industries and lagging regions
Disclaimer
Note: Legislative history and other information accessed from Congress Legis. Information as of April 20, 2022.