BDO clarifies saving tax
Amid the confusion on the 20 percent tax on Capital Markets Efficiency Promotion Act (CMEPA) bank savings, Albert Tuala, BDO Network Bank’s regional head for Bicol asks the media to help them explain to the public that the 20 percent tax is imposed on the interest gained from the savings. He said that the aim of the new law is to tax big depositors earning big interests.
VIDEO BY Rhaydz Barcia
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