THE Philippine Stock Exchange, Inc. (PSE) is set to implement the lower stock transaction tax (STT) starting July 1 following the recent signing of Republic Act No. 12214 or the Capital Markets Efficiency Promotion Act (CMEPA).
“On the premise that publication of CMEPA will be completed before July 1, the STT of one-tenth of 1% shall apply to transactions through the exchange made on July 1 onwards,” PSE President and Chief Executive Officer Ramon S. Monzon said in a document dated June 11 uploaded on the market operator’s website.
Under Section 29 of CMEPA, the law will take effect on July 1, following its complete publication in the Official Gazette or in at least one newspaper of general circulation.
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