Emmi

eD.Cast
il
lo

BAOM401

1.Whyi
staxesl
i
febl
oodofanat
ion?

Cert
ainoi
landtouri
st/
gambli
ngnationsrel
yonotherr
esourcesforincome.Most
nat
ionsusetaxat
ion,f
eesonimports,andl
easesonnatur
al r
esourcesfori
ncome.
Donati
onsandbakesaleswon’tcov
ert hemil
i
tar
yandpoli
tici
ans’salar
ies.

Bloodisli
feandrequiredtomai nt
ainl
ife,
simi
lararet
axesforanati
onrequi
redi
nor
der
tobeabletoexist.t
hroughwhi chgovernmentagenci
esconti
nuetooperat
eandwhi
ch
theStatedi
schargesitsfunct
ionsforthewelf
areofit
sconsti
tuent
s.

2.HowTaxRef
ormf
orAccel
erat
ionandI
ncl
usi
onAct(
TRAI
N)l
awaf
fect
sthePhi
l
ippi
ne
economy
?

Payrol
lmanager sst artadj
ustingtheirsystemst orefl
ectthenewwi t
hholdingtaxrat
es.
Supermarkets,oi
l r
et ai
ler
s,conveniencest ores,andev ensidewalkv endorsbegin
updati
ngtheirpri
cel ists,
aimst omaket hePhi li
ppineTaxSy stem simpler,fai
rer
,and
moreeffi
cienttopr omot einvestments,createj obsandr educepov ert
yincreasedthe
i
ncomesorspendi ngpowerofFi li
pinoconsumer st omor ethanmakeupf orthe
moderaterisei
ni nflati
onthathappensi nf ast-growingeconomi es

3.Whati
sthebenef
it
sofRef
ormf
orAccel
erat
ionandI
ncl
usi
onAct(
TRAI
N)l
awf
or
wor
ker
s?

Whi l
et hepr ogr
am hasbeenl audedbysomesect ors,t
herearethosewhoopposei tand
sayt hatitmay ,infact,
haveanegat ivei
mpactamongt helowest-
earningci
ti
zens.Here’
s
abr i
efl ookatTRAI Nandt hepr osandconsasexpr essedbyeconomi cexpert
s,aswell
asor dinarywor ker
sandbusi nessmen.Fi l
i
pinowor kershavecompl ai
nedaboutthe
count r
y ’
shi ght
axr ateswhilegetti
ngwhatt heyperceiveaslow-quali
typubl
icservi
ces.
Increasedeconomi cactiv
itywillbebuoyedbyi ncr
easedhousehol dconsumptionand
higherinv estments.
4.Whatisthedi
ff
erencesbet
weent
heResi
dentCi
ti
zent
oNonResi
dentCi
ti
zenexpl
ain
youranswer
.

Resi dentcit
izensaresubjecttoPhil
ippinesincomet axonwor l
dwideincome.Non-
residentciti
zensandal i
ensaresubjectt oPhili
ppinesincomet axont heirPhi
l
ippi
nes-
sour cedincomeonl y,suchasempl oy mentincomeandpassi veincome.Tobecl assi
fi
ed
asar esi
dental i
en,t
heindivi
dualmustmeetoneoft wot ests1.GreenCar dTestA.Non-
residentali
eni salawfulpermanentr esi
dentoft heU.S.atanyt i
mei ftheyhavebeen
givent heprivi
lege,
accordingtotheimmi grati
onl aws,ofresidi
ngper manentl
yasan
i
mmi gr
ant.