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Revenues over P16 billion from Republic Act 10963 to fund infrastructural projects

P1.2 billion will go for Pasig River and Manggahan Floodway Bridges Construction Project, P200 million for New Cebu International Container Port, P2.9 billion for Subic Clark Railway project and P2.6 billion for Amba, Sumuay tiver and Rio Grande de Mindanao flood control projects.


Devdiscourse News Desk Last Updated at 08 Aug 2018, 14:08 IST Philippines
Revenues over P16 billion from Republic Act 10963 to fund infrastructural projects
  • P1.2 billion will go for Pasig River and Manggahan Floodway Bridges Construction Project, P200 million for New Cebu International Container Port, P2.9 billion for Subic Clark Railway project. (Image Credit: Twitter)

Revenues from Republic Act 10963 or Tax Reform for Acceleration and Inclusion Act will fund a few infrastructural projects next year, said Budget Secretary Benjamin Diokno.

The announcement was made during a briefing by the interagency Development Budget Coordination Committee. Budget Secretary, Benjamin Diokno said that the income would be used to construct sports facilities at the National Government Administrative Center in Tarlac province's New Clark City.

More than P16 billion is estimated from the act. P1.2 billion will go for Pasig River and Manggahan Floodway Bridges Construction Project, P200 million for New Cebu International Container Port, P2.9 billion for Subic Clark Railway project and P2.6 billion for Amba, Sumuay tiver and Rio Grande de Mindanao flood control projects.

The Train is the first package of government's Comprehensive Tax Reform Program (CTRP). It was first signed by President Rodrigo Duterte on December 19, 2017.

The law also has revenue increasing measures with an aim to back government's plans to speed up investment on infrastructure and human capital development.


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