Package 1B of the TRAIN Law (House Bill 7105) was filed on February 5, 2018 with the House of Representatives and referred to the Committee on Ways and Means on February 6, 2018. The Department of Finance (DOF) expects to have the bill passed by Congress’ session in June.
Package 1B constitutes a general and estate tax amnesty, and relaxation of our Bank Secrecy Law.
I am personally looking forward to the passage of this bill. This will not only benefit the government and the Filipino taxpayers, but also enable us to promote honesty in paying taxes.June 11 - TRAIN's NEXT STATIONS (mon Abrea)