Implementation of the Tax Reform for Acceleration and Inclusion (Train) law boosted consumer demand and sales by retail firms and fast food chains, a Finance official said on Wednesday.
“The significant growth in sales reported by retail establishments and restaurants point to the fact that people now have more money to spend as a result of the hefty PIT (personal income tax) cuts under Train which is now benefiting 99 percent of our taxpayers,” Finance Assistant Secretary Antonio Lambino claimed in a statement.
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