IMPORTANT TAX ADVISORY
June 27, 2025
We would like to inform the public of a recent development in the Philippine financial landscape that may impact some of your banking transactions.
Republic Act No. 12214, or the Capital Markets Efficiency Promotion Act (CMEPA), was signed into law by President Ferdinand Marcos Jr. on May 29, 2025.
CMEPA is a modern reform that brings the Philippines in line with global practices. It helps grow our economy by making it easier for businesses to raise money, ensures the government can manage its finances wisely, and encourages more people—including individuals and institutions—to invest in the local financial markets. Investors can also now enjoy a streamlined, more predictable tax regime.
As such, be advised of the upcoming adjustments in tax rates on products and services of CBS China Bank Savings, effective July 1, 2025.
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