ABSTRACT : Aims to reduce the number of tax bases and rates applicable to passive income, financial intermediaries, and financial transactions. Proposes for the following provisions: to gradually reduce the tax rates on royalties and interests from 20% to 15%; to impose a single tax rate of 15% on interest income, royalties, dividends, and capital gains on the sale of shares of stock not traded in the stock exchange; to impose a single tax rate of 5% gross receipt tax on the income of banks, quasi-banks, and other non-bank financial intermediaries; to impose a harmonized 2% tax on premiums of pre-need, life insurance, and health maintenance organizations products; and to gradually reduce the stock transaction tax from 6/10 of 1% to 1/10 of 1%. Proposes further for the following: to rationalize the rates of documentary stamp tax; to repeal exemption of foreign currency deposit from interest income tax; to remove excise tax exemption of pick-up trucks introduced in the TRAIN law; and to adopt administration provisions originally proposed under the previous tax packages of the Comprehensive Tax Reform Program