The House Committee on Ways and Means sent its TRAIN 2 bill to the plenary on August 9, 2018. Chairman Dakila Cua named House Bill No. 8083 the TRABAHO Bill, for Tax Reform for Attracting Better and Higher Quality Opportunities.
TRAIN, or Tax Reform for Acceleration and Inclusion, is the Duterte administration’s bid for comprehensive tax reform. TRAIN 1, which lowered most personal income taxes while raising some excise taxes, was signed into law on December 2017. TRAIN 2 aims to “rationalize” corporate incentives while lowering corporate income tax rates.