News

ABS-CBN on MSN9h
20 percent tax on deposits not new: BPI
BPI President Jose Teodoro Limcaoco, who is also the president of the Bankers Association of the Philippines, said there has ...
Philstar.com on MSN1d
CMEPA and the 20% tax: What it means for your bank savings
The Department of Finance (DOF) has since clarified misconceptions fueled by social media buzz, especially the mistaken ...
Inquirer Business on MSN1d
Explainer: 20% tax on interest income from bank deposits under CMEPA
Public backlash is growing over parts of the Capital Market Efficiency Promotion Act (CMEPA), particularly provisions on taxing interest from bank deposits. And the Department of Finance (DOF) has ...
When In Manila2d
Banks Impose Uniform 20% Tax on Interest Income—Here’s What You Need to Know
Major Philippine banks have already started implementing a uniform 20% final withholding tax on interest income from deposit products, effective July 1.