Long-term time deposits in the Philippine banking industry plummeted 95 percent in recent months, as Filipino depositors may have withdrawn or opted not to renew their placements following the removal of a key tax exemption. “So the five-years-plus-one-day time deposit product of our member...
Tax measures enacted during the Marcos Jr. administration are expected to raise a net amount of ₱27.8 billion in 2026, more than seven times the projected collections of only ₱3.8 billion in 2025. The Bureau of Internal Revenue (BIR), the main tax agency, is projected to collect ₱21.4 billion...
There’s been a lot of talk about this topic lately, to the point of misinformation. In this article, I want to present both sides – the government 's perspective and some statements from the public – to help us understand it better. First off, the public shouldn’t panic about this 20...
DAVAO CITY – Councilor Danny Dayanghirang here filed a resolution strongly opposing the imposition of a 20 percent final withholding tax on interest income from bank deposits, a provision under Republic Act No. 12214, also known as the Capital Markets Efficiency Promotion Act (CMEPA). The...
A couple of months before the much-anticipated Capital Markets Efficiency Promotion Act (CMEPA) took effect, my friend Carmen got in touch about a five-year-plus-one placement offered by a publicly listed universal bank, promising a pretty good yield. Considering and understanding that transaction...
While the recent reduction in the cost of trading stocks in the Philippines is expected to boost market activity at the Philippine Stock Exchange (PSE), more needs to be done to develop the local capital market, particularly in investor education. During the bell-ringing ceremony at the PSE marking...
The Republic Act No. 12214 or the Capital Markets Efficiency Promotion Act (CMEPA), which became effective on July 1, was designed to encourage every Filipino to invest their hard-earned money to build a better future, President Marcos said. As Marcos led the special bell-ringing at the Philippine...
The newly signed Capital Markets Efficiency Promotions Act (CMEPA) is projected to generate over ₱25 billion in net revenue gains over the next five years, according to the Department of Finance (DOF). Finance Secretary Ralph G. Recto said CMEPA also supports the country’s medium-term fiscal...
Expect pickup trucks to be more costly after the provision reimposing the excise tax on the vehicle type was approved, alongside other tax reform measures under the proposed Capital Market Efficiency Promotion Act (CMEPA). The CMEPA, a legislation deemed a priority of the administration under the...
