Daily News

TRAIN revenue beats target by 6.8% in 1H2019

1H2019 collections generated by the Tax Reform for Acceleration and Inclusion (TRAIN) law amounted to P55.6 billion, up 65% year-on-year and exceeding the target by 6.8%, the Department of Finance (DOF) said. DOF added that the main generators of marginal revenue were the personal income tax, the petroleum excise tax, and the tobacco excise tax, among others.