3/18/2023 0 Comments Ticke tackThe TRAIN Law exempted workers with a gross income of below P250,000 yearly from paying personal income taxes, but in exchange slapped excise taxes on fuel, sugar-sweetened drinks and vehicles, among others.Īs planned, at least 70 percent of TRAIN’s revenue will finance public infrastructure, and the remaining 30 percent will be allocated for social services. To widen the tax base, the government also passed multiple fiscal measures to rearrange the tax brackets and introduce additional excise taxes, an example of which is the Tax Reform for Acceleration and Inclusion (TRAIN) Law signed in 2017. President Duterte’s economic plan favors acquiring external grants and loans, known as official development assistance (ODA), to bankroll the government’s infrastructure projects and social services.īased on government records, the Duterte administration secured $7.94 billion worth of ODA from July 2016 to December 2020, exceeding the administrations of former presidents Gloria Macapagal Arroyo ($6.06 billion) and Benigno Aquino III ($5.64 billion). The Mandanas ruling reduces national government resources because we have to increase the share of local government in revenues,” he said. “Also, we want to make sure that the private sector will contribute to resource mobilization. ![]() ![]() “We now have to look at PPPs more intensively to find out where we can use the private sector resources to continue the Build Build Build program, which has been ongoing since the start of the Duterte administration,” Beltran said in a webinar with the United Nations Development Program. ![]() MANILA, Philippines - The government may revert to public-private partnerships (PPPs) to finance big-ticket infrastructure projects due to funding shortfall as a result of the Mandanas ruling.įinance Undersecretary and chief economist Gil Beltran said yesterday the country may tap the private sector over the next few years to complete the public infrastructure projects laid out by the government under the Build Build Build program.
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