Comparison of House Bill No. 5636 (CTRP Package One) to the present NIRC

On 31 May 2017, the House of Representatives has approved on third and final reading House Bill 5636, also known as the Tax Reform for Acceleration and Inclusion (TRAIN) Act, which is in substitution and consolidation of the filed bills intended to implement Package One of the government’s tax reform plan. The bill shall now go to the Senate for its concurrence. The Lower House of Congress swiftly acted to pass the bill after President Rodrigo Duterte earlier this week certified to the necessity for the immediate enactment of House Bill 5636. Congress went on its sine die adjournment at the end of last week and will resume sessions in July.

Please refer to the below comparison of House Bill 5636 to the pertinent provisions of the present National Internal Revenue Code.

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