MANILA, Philippines — President Rodrigo Duterte on Monday urged lawmakers to pass the second package of the Tax Reform for Acceleration and Inclusion (TRAIN) law, which seeks to reduce the corporate income taxes in the country while rationalizing the fiscal incentives system.
In his third State of the Nation Address, Duterte lauded Congress for the passage of the law but said no to proposals to stop its implementation amid the high inflation rate recorded for the country this year.
"You have made funds available to build better roads and bridges, and improve health and education, and strengthen our safety and security. Some have incorrectly blamed our efforts toward a fairer tax system for all the price increases in the past months, and some irresponsibly suggesting to stop TRAIN’s implementation. We cannot and should not. We need this for sustainable growth that leaves no Filipino left behind," he said.
Watch the part of the president's 48-minute speech, his shortest SONA yet, where he tackled the TRAIN law and its implementation here:
— Text by Philstar.com intern Christian De Lano Deiparine