TAX REFORM: President Rodrigo Duterte signed Republic Act (RA) 10963, also known as TRAIN (Tax Reform for Acceleration and Inclusion), which took effect on January 1, 2018. It was aimed to simplify taxation, making it more equitable and effective, according to the Philippines’ Department of Finance (DOF). RA 10963 amended both RA 11467 (excise "sin" taxes on alcohol, e-cigarettes) as well as RA 8424, the National Internal Revenue Code of 1997. As part of TRAIN, fresh changes in the way income tax is calculated are set to take place from January 1, 2023.