The Philippine Department of Finance has announced that President Ferdinand R. Marcos, Jr. has signed Republic Act No. 12214 into law, the Capital Markets Efficiency Promotion Act (CMEPA). The CMEPA:
- Establishes a final tax of 20% on interest income;
- Establishes a final tax of 15% on net capital gains from the sale, exchange, or disposition of shares in both domestic and foreign companies, except shares sold or disposed of through a local or foreign stock exchange;
- Establishes a final tax …