Personal Expense-Related Effects of TRAIN Law on Purchasing Power

Abstract

This paper investigates the effects of the recently implemented tax revision law "Train law" (R.A. 10963), enacted in December 2017 and effective on January 1, 2018. The collected data using a survey through Google forms, where the questions were focused on areas of education, health, and savings. After the data was collected, the areas of education, health, and savings results were nevertheless the same without an enormous difference. According to the findings, the impact of TRAIN law on education would instead send their child to public schools to lessen the expenses and eliminate book expenses. Health-related health insurance is non within the priority of most of the respondents. Furthermore, as to savings, we can conclude that due to the increase in the prices of necessities having extra, as they call it, was not an option also; they said that they are living and surviving daily. Therefore, it is concluded that after the implementation of TRAIN, personal needs were no longer or will never become the top priority of most Filipinos nowadays.

Keywords: Education, Exigencies, Health, Tax Revision, Train Law, Savings