
16/07/2025
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🚨 Finance Secretary Ralph Recto said RA 12214 (CMEPA), which standardizes the withholding tax on passive income, including interest from new long-term deposits placed after July 1, is expected to generate over ₱25 billion in revenue through 2030 and help lower the fiscal deficit while improving access to capital and investments for ordinary Filipinos. 👇
📝 Edit: This caption was updated for clarity to reflect that the 20% tax applies only to interest from new long-term deposits under CMEPA.