The 8% final income tax, simple but not quite

As reported, Congress is expecting to pass House Bill No. 5636 or the (new) Tax Reform Acceleration and Inclusion (TRAIN) on second reading this week, but not after intense plenary debates. This bill is the substitute bill of the earlier House Bill No. 4744 and other related tax measures. It adjusted some of the more contentious provisions in the old TRAIN. For legislation with a profound impact on all Filipinos, it is important to hear many arguments, whether pro or anti, in order to make an informed decision.