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NOTICE TO OUR VALUED CLIENTS

In compliance with Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) Law, the following will be implemented by the bank effective January 1, 2018:
 
1. Final Withholding Tax on interest income received by an individual/corporation (except for non-resident entity) from Foreign Currency Deposit Unit (FCDU) increased from 7.5% to 15.0%.

2. Documentary Stamp Tax increased by:
 
BANK PRODUCT TAXABLE UNIT INCREASE IN FEES

All debt instruments
(e.g.loan agreements, bonds, etc.)

 
Every Php 200.00
or fraction thereof
From Php1.00 to
Php1.50

Time Deposits
 

All Bills of Exchange or
Drafts, upon acceptance of
Bills of Exchange,
Foreign Bills of Exchange
and Letter of Credit

 
Every Php 200.00
or fraction thereof

From Php0.30 to
Php0.60

 
Mortages, Pledges and
Deed of Trust
First 5,000
From Php20.00 to
Php40.00

 

On each Php5,000
or fraction thereof
in excess of the first
Php5,000

 
From Php10.00 to
Php20.00

Bank Checks, Drafts,
Certificate of Deposit not
bearing interest and
other instruments

 
Each Document From Php1.50 to
Php3.00
 
For more details, please call our 24/7 Customer Service Helpline at (+632) 721-6000 or email us at customer.service@sterlingbankasia.com.
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