Dissecting the TRAIN law: A look at the optional flat tax
One of the major changes brought about by Republic Act 10963, otherwise known as the TRAIN law, is the modification of income taxes. In particular, the said law introduced changes to the income-tax scheme governing individuals. Most notable are the changes made to the prevailing income tax- rate bracket. This change has generated a lot of attention among the general populace. It is rather unfortunate, however, that a crucial change in the income-tax scheme has managed to fly under the radar. For all the interest surrounding the changes in the income-tax bracket, not enough spotlight has been shone on the optional flat tax.