Google

ASEANAFFAIRS
Sign up | Log in

    ASEAN PROFILES

  ASEAN KEY DESTINATIONS

Home>>Daily News>>>>Economy>>Tax reform has ‘minimal’ impact on prices of consumer goods —DTI

NEWS UPDATES Asean Affairs  March 30, 2018  




Tax reform has ‘minimal’ impact on prices of consumer goods —DTI

Philippines: The enactment of the Tax Reform for Acceleration and Inclusion (TRAIN) law contributed minimally on prices of consumer goods, the Department of Trade and Industry (DTI) said Wednesday.

In a press conference in Makati City, Trade Undersecretary Ruth Castelo said prices of consumer goods were only minimally affected by the passage of the TRAIN Law.

“The effect of TRAIN Law Package 1 on BNPCs (basic necessities and prime commodities) ranges from only 4 centavos to 25 centavos,” she said.

President Rodrigo Duterte signed the proposed tax reform proposal into law on December 19. It reduced the personal income tax and expanded the value-added tax (VAT) base.

With the tax reform law in effect starting Jan. 1, 2018, inflation in January registered at 4.0 percent, the fastest in over three years.

But Castelo said the increase in prices of consumer goods was mainly due to other factors.

“The increase that you will see now on the prices of BNPCs is caused by other factors such as foreign exchange, presyo ng raw materials ... at ang presyo ng crude oil na ini-import natin from Dubai,” she said.

“The price of crude oil has increased in the international market, not only the selling price to the Philippines,” Castelo noted.


Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates
Contact: marketing@aseanaffairs.com

Comment on this Article. Send them to  your.views@aseanaffairs.com

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
 
or
submit your comment in the box below



  Today's  Stories                       March 30, 2018 
• Vietnamese overseas investment hits nearly $150 million Subcribe: Asean Affairs Global Magazine
• US-based microfinance firm taps PHL as regional hub for Southeast Asia Subsribe Now !
• Myanmar, China exchange views on bilateral economic cooperation
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Tax reform has ‘minimal’ impact on prices of consumer goods —DTI
• Domestic cement consumption down, export market bright
Asean Analysis                 March 20,  2018
• Asean Analysis March 20, 2018
Joint Development in the West Philippine Sea: an Idea Whose Time Has Come
Advertise Your Brand

Asean Stock Watch   March 29,  2018

• Asean Stock Watch-March 29, 2018
The Biweekly Update
• The Biweekly Update  October 27, 2017

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan

ASEAN  ANALYSIS

This year in Thailand-what next?


AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More

 


Name

Name


Email

Email



1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

| Terms of Use | Site Map | Privacy Policy  | DISCLAIMER |

Version 5.0
Copyright © 2006-2020 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand
asean@aseanaffairs.com