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What is Overview of the TRAIN Law and Its Impact about?

1. The TRAIN law was enacted in 2017 to reform the tax system by lowering personal income taxes, simplifying other taxes, and expanding the VAT base while introducing excise taxes on certain goods. 2. Advantages include generating additional revenue to fund infrastructure projects and improving healthcare services. Disadvantages are that it could increase unemployment and prices of basic goods, negatively impacting the poor. 3. The author recommends voiding the law before further damage or implementing p

Author

Hyunji Cha

Language

EN