Package 5

Under Package 5, the Department of Finance proposes the following:

(1) Reduce the tax on interest income earned on peso deposits and investment from 20% to 10%.
(2) Harmonize capital income tax rates for dollar deposits and investment, dividends, equity, fixed income rates towards 10%.
(3) Increase the tax on stocks traded in the stock exchange from 0.5% to 1% on gross selling price.

Disclaimer: Latest available information pending updates from Congress or the Department of Finance.