News

Inquirer Business on MSN14d
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 ...
ABS-CBN on MSN13d
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 MSN13d
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 ...
BusinessWorld1d
Banks’ deposit composition may shift due to removal of tax perks
BANKS may see changes in their deposit base as clients could reallocate their funds following the removal of tax perks for long-term deposits under the Capital Markets Efficiency Promotion Act (CMEPA) ...
When In Manila15d
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.