Emperador Inc. announced revised guidelines for the collection and remittance of the Philippine stock transaction tax (STT) on sales of its shares executed on Singapore Exchange Securities Trading Limited (SGX-ST).
Effective Jul, 01 2025, the STT on Emperador Inc. shares will be 0.1% of the gross selling price, down from 0.6%, following the Capital Markets Efficiency Promotion Act. The tax is a final levy on the seller and must be withheld by the executing Singapore broker at settlement.
Singapore brokers can forward the collected STT to the Philippines Bureau of Internal Revenue through BDO Securities Corporation, which acts as the appointed receiving and remitting agent, or through alternative channels such as affiliated Philippine brokers.
Seventeen Singapore brokers have so far been onboarded with BDO Securities Corporation: CGS-CIMB Securities (Singapore) Pte. Ltd.; Citigroup Global Markets Singapore Securities Pte. Ltd.; CLSA Singapore Pte. Ltd.; Daiwa Capital Markets Singapore Limited; DBS Vickers Securities (Singapore) Pte. Ltd.; iFAST Financial Pte. Ltd.; Instinet Singapore Services Pte. Ltd.; JP Morgan Securities Singapore Private Limited; KGI Securities (Singapore) Pte. Ltd.; Lim & Tan Securities Pte. Ltd.; Macquarie Capital Securities (Singapore) Pte. Limited; Maybank Securities Pte. Ltd.; OCBC Securities Pte. Ltd.; Philip Securities Pte. Ltd.; Tiger Brokers (Singapore) Pte. Ltd.; UBS Securities Pte. Ltd.; and UOB Kay Hian Private Limited. DBS Vickers is not currently offering trading in Emperador shares to retail clients.
If a broker ceases to use BDO as the remitting agent, it must establish an alternative mechanism to ensure continued compliance with Philippine tax obligations; otherwise, clients may be unable to trade Emperador shares on SGX-ST.
Emperador advises investors to consult their professional advisers and respective Singapore brokers on the tax, legal and administrative implications, including any additional fees related to STT payments to the Philippines Bureau of Internal Revenue.