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PSBank

Important Advisory

Dear Valued Clients,

Pursuant to Republic Act 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law, please be advised of the tax rate increases on the following bank transactions and the corresponding increase in the cost of checkbook, effective January 1, 2018:

  • Final withholding tax on interest from foreign-currency deposits
    • From: 7.5%
    • TO: 15%
  • Documentary Stamp Tax on Debt Instruments
    • From: PhP1.00 for every PhP200 or fractional part thereof
    • TO: PhP1.50 for every PhP200 or fractional part thereof
  • Documentary Stamp Tax on Real Estate Mortgage
    • From:
      • PhP20 for the 1st PhP5,000
      • PhP10 for the succeeding PhP5,000
    • TO:
      • PhP40 for the 1st PhP5,000
      • PhP20 for the succeeding PhP5,000
  • Documentary Stamp Tax on Bills of Exchange
    • From: PhP0.30 for every PhP200 or fractional part thereof
    • TO: PhP0.60 for every PhP200 or fractional part thereof
  • Cost of Checkbook
    • From:
      • Personal: PhP165
      • Commercial: PhP330
    • TO:
      • Personal: PhP250
      • Commercial: PhP500

For inquiries or concerns, call our 24/7 Customer Experience Hotline at (632) 845-8888 or email us here.  You can also reach us via the PSBank LiveChat.

Thank you.

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