City Council slams 20% tax on interest income
By Ivy Tejano DAVAO CITY – A lawmaker here filed a resolution strongly opposing the imposition of a 20% 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 controversial provision, which takes effect on July 1, 2025,…
