Bank Savings Now Taxed at 20% in the Philippines: What Every Depositor Should Know

Starting July 1, 2025, bank depositors in the Philippines are facing a new reality: a flat 20% tax on all interest earned from savings and time deposits. This change is part of the newly implemented Capital Markets Efficiency Promotion Act (CMEPA), or Republic Act No. 12214. But what exactly does this mean for ordinary savers?... Continue Reading →

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