10 Tweets That Sum Up How the Internet Feels About the Tax Reform Law

Are you ready for it?

(SPOT.ph) After much debate, President Rodrigo Duterte signed into law the Tax Reform for Acceleration and Inclusion on December 19. This seemed to be great news at first, especially since it lowers the personal income tax of salary earners. But the second component of this new tax system is the increase in excise tax on fuel, cars, tobacco, coal, oil products, sweetened beverages, and cosmetic procedures. We all know how oil and fuel price hike affects the price of daily commodities. Bayan Muna Rep. Carlos Isagani Zarate did say that it will cause a "severe domino effect" and that the "price shock will hit the poor hardest." Now that it's being fully implemented, we're already starting to feel its effects despite the government's clarification that the excise tax isn't applicable to old stock of petroleum products.

 

So real!

 

Time to do the math.

 

P12 to stay stuck in traffic. Sure.

 

Surprise!

 

So near yet so far.

 

Even Grab wants a fare hike.

 

No more unli coke!

 

New year, new you.

 

At least you can stick to your sugar-free diet.

 

Everything, except the government. :(

 

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