, Philippines

Philippine banks forced to declare tax on interest income from Central Bank

This covers years 2009 to 2013.

According to Maybank Kim Eng, The central bank of the Philippines (BSP) issued a memorandum requiring all banks and non-banks performing quasi-banking functions to submit to the Bureau of Internal Revenue proofs of remittance of tax paid on interest income received from the BSP. This covers years 2009 to 2013.

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