Train law essay pdf

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This law was made to correct various drawbacks in the present tax system. In the initial four months of its introduction, there were seen a few positive and negative effects of it. Let us know more about them in detail. The TRAIN law includes economic, and political procedures that aims at making the tax reform system simpler, efficient, and fairer for people.
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[ANALYSIS] How the TRAIN law worsened poverty, inequality

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Travel by train essay reflection

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Positive And Negative Effects Of Train Law

It is necessary therefore to know the changes and consequences of the new law to ensure compliance and avoid tax risks and exposures. Personal Income Tax 2. Personal Exemptions and Deductions 3. Withholding Tax rate 5.
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Minimum wage earners will continue to be exempted from income taxes as their income falls below P, Husbands and wives who are both working can benefit from a total of up to P, in exemptions. TRAIN seeks to simplify this. This will result in loss revenues but the key here is to make the land market more efficient so that the land will go to its best use.
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