Bank of Commerce

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Customer Service:
(02) 8-632-BANK (2265)
Domestic Toll-Free Numbers:
1800-10-982-6000 (PLDT) 1800-8-982-6000 (Globe Lines)

New Tax Rates and Fees of Checkbooks in accordance with TRAIN Law

HomeAdvisoriesNew Tax Rates and Fees of Checkbooks in accordance with TRAIN Law

Please be advised that EFFECTIVE JANUARY 1, 2018, the new tax rates and fees of checkbooks will be as follows, in accordance with Republic Act 10963 – Tax Reform for Acceleration and Inclusion (TRAIN). 

Transactions New Tax Rate
1. Withholding Tax on Interest for foreign currency accounts (USD/Third Currency Savings and Time Deposit) 15%
2. Documentary Stamp Tax (DST)
Debt Instrument (Peso Time Deposit, etc.) Php 1.50/Php 200.00
Outward Foreign Telegraphic Transfer Php 0.60/Php 200.00
Inward Foreign Telegraphic Transfer Php 0.60/Php 200.00
Outward Foreign Currency Check Php 0.60/Php 200.00

 

Type of Checkbook New Fees
Individual Php 250.00
Corporate Php 500.00
Manager’s Check Php 58.00

 

Peso Time Deposit
DST shall be PHP 1.50 for every Php 200.00 or fraction thereof DST Computation
a. With term of one (1) year Principal/ Php 200.00 x Php 1.50
b. With term less than one (1) year Principal/ Php 200.00 x Php 1.50 x no. of days/ 365 days

For further inquiries or clarifications, please call or visit your branch of account or any Bank of Commerce branch near you. Click here to view the complete list of our branches.