Some relevant and important facts about the TRAIN law: Title of the law: This Act shall be known as the “Tax Reform for Acceleration and Inclusion” [1] Known as: “TRAIN LAW” Date the law was signed: 19 December 2017 Date of Effectivity: January 1, 2018   “This Act shall take effect on January 1, 2018 following its complete publication in the Official Gazette or in at least one (1) newspaper of general circulation. [2] What's new in this law? It introduces Significant and MAJOR Amendments to the NIRC of 1997 [3], are now in place, particularly: Personal Income tax rates Passive incomes Estate tax Donor’s tax VAT by expanding the tax base Removal of VAT exemptions Adjustments on Excise tax of Fuel. Automobiles, coal, Documentary Stamps tax New tax impose on sweetened beverages New tax impose on cosmetic procedure (non-essential services) Salient Features (distinguishing features): Has 87 Sections. It REPEALED Sections 35, [4] 62 [5] and 89 [6] of Tax code