THE EFFECT OF TRAIN LAW IN LESSENING INCOME TAX AND INCREASING SIN TAX TO THE POOR AND LOW-INCOME CLASS
Research Title:
Excerpt from Introduction:
The Tax Reform for Acceleration and Inclusion (TRAIN) Act of the Comprehensive Tax Reform Program (CTRP) was signed into law on the 19th of December 2017 by President Rodrigo Duterte, and was put into effect on the 1st of January 2018 (Department of Finance, 2018). The TRAIN Law is one of the four packages under the CTRP, a tax reform scheme that aims to make adjustments to the Philippines' tax system (Department of Finance, 2019). According to Carlos Dominguez, the Secretary of Finance, in order to promote investments, create jobs, and reduce poverty, the TRAIN law aims to make the Philippine Tax System simpler, fairer, and more efficient (Department of Finance, 2018).
In conducting this study, the researchers aim to explore the effect of the TRAIN law of lessening income tax and increasing sin tax to the poor and low-income class. The results of the study will be of great benefit to the poor, low-income class, lawmakers/government and instructors. And for this study, the researchers will use a qualitative research approach and is descriptive in nature to gain understanding of the research problem.
Learnings:
Before conducting this research proposal, I only have few knowledge about the Tax Reform for Acceleration and Inclusion (TRAIN) Law. However, upon the search for the related literature that is needed for this proposal, I have encountered many new ideas that increased my knowledge about it. One example is that I have come to know that this law is part of the bigger plan called "Ambisyon Natin 2040" which intends to reduce the Philippine poverty.
And using the new ideas that I've searched and read, I was able to contribute in the research framework of this research proposal and of course in the overall completion of the study.