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TRAIN Law and Philippine Development Goals

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TRAIN Law and Philippine Development Goals

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Questions and Answers

What is the official designation of the TRAIN Law?

Tax Reform for Acceleration and Inclusion

Republic Act No. 10963 (correct)

Republic Act No. 10962

Comprehensive Tax Reform Program (CTRP)

What is the main goal of the TRAIN Law?

To eradicate extreme poverty by 2040 (correct)

To achieve a higher income status

To create inclusive institutions that will offer equal opportunities to all

To reduce the poverty rate from 26% to 17% by 2020

What is the purpose of the TRAIN Law in the tax system?

To correct deficiencies in the tax system to make it simpler, fairer, and more efficient (correct)

To increase the number of tax-paying citizens

To increase the tax rate for all citizens

To reduce the national income

By what year does the Duterte Administration aim to reduce the poverty rate from 26% to 17%?

2020 Signup and view all the answers

What is the expected outcome of the TRAIN Law on the economy and income groups?

Decrease in poverty rate and equal income distribution Signup and view all the answers

What is the significance of January 1, 2018, in relation to the TRAIN Law?

The date of the implementation of the TRAIN Law Signup and view all the answers

What is the relationship between the TRAIN Law and the Comprehensive Tax Reform Program (CTRP)?

The TRAIN Law is the first package of the CTRP Signup and view all the answers

What is the expected outcome of the TRAIN Law on the 10 million Filipinos?

They will be uplifted from poverty Signup and view all the answers

Who signed the TRAIN Law into effect?

The President of the Philippines Signup and view all the answers

What is the main focus of the Duterte Administration's vision for 2020 and 2040?

To eradicate extreme poverty and provide equal opportunities Signup and view all the answers