The Philippines Tax Reform for Acceleration and Inclusion (TRAIN) Act (Republic Act No. 10963) was published in the Official Gazette on 27 December 2017 after being approved by Congress and signed into law earlier in the month. The main reform measures are summarized as follows:
- The personal income tax brackets and rates for salary/wage earners are as follows from 1 January 2018:
- up to PHP 250,000 - 0%
- over PHP 250,000 up to 400,000 - 20%
- over PHP 400,000 up to 800,000 - 25%
- over PHP 800,000…