Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN), revising the outdated National Internal Revenue Code of 1997 took effect on January 1 2018. Its objective is to "correct a number of deficiencies in the tax system by making it simpler, fairer and more efficient". A new section on fuel marking was introduced in the TRAIN to curb smuggling and misdeclaration of petroleum products which has resulted in revenue losses from excise and value added taxes estimated by the Asian Development Bank (ADB) in Philippine pesos at 37.5 billion annually.