Increased Tax Rates for Banking Transactions Effective January 1, 2018

In compliance with RA No. 10963, tax rates of select bank products and services have been adjusted, effective Jan. 1, 2018,
as follows:

  • Final withholding tax on interest from Foreign-Currency Deposit Units (FCDU) from 7.5% to 15%.

  • DST increase by 50% to 100% over existing rates, depending on the nature of transaction.