Biz leader sees positive TRAIN economic effect

A Davao business leader is bullish on the positive impact of the Tax Reform for Acceleration and Inclusion (TRAIN) on the country’s economy, considering that it will give the government source of funds for its infrastructure program.

Davao City Chamber of Commerce and Industry Inc. president Arturo Milan urged the business sector to always look at the total effect of TRAIN. He, however, did not discount there would always be a negative side when new laws were enacted.

He admitted that there are some members of the business group who raised concerns about the excise tax on diesel fuel as this will result to higher transportation cost.

“But we should remember that the increase in fuel was not a result of TRAIN but on the increase of the global market price,” he said.

He stressed, “I am confident the concerned government authorities know what they are doing and this TRAIN will enhance our capability as a country to really invest on infrastructure because taxes is our obligation to government and our patriotic duty to pay what is due to government”.

Initially, he said, there will always be complaints but in the end “I feel what is generated will be for the common good because this will give the government some ammunitions to invest in the Build Build Build program”.

Aside from TRAIN, Milan also cited the increase in the zonal valuation of real properties in Davao that was approved in May last year.

He said it came as a shock since it took sometime for the government to implement the new revenue measure.

“But, we should appreciate this because our local government is looking for ways on how they could build the money to finance our social services,” he added.

“I always look at taxes as our share in really providing service to our people and we have to do our share to generate the funds for the common good for as long as every peso collected from taxes is well spent,” Milan said. (Digna D. Banzon/PNA)