Emperador Inc. (EMI) has detailed the mechanism for collecting and remitting the Philippine stock transaction tax (STT) on sales of its shares executed on Singapore Exchange Securities Trading Limited (SGX-ST).

The company said trades in its shares are subject to an STT of 0.1% of the gross selling price, down from 0.6%. The tax is a final levy on the seller and must be withheld by the executing Singapore broker before being remitted to the Philippines Bureau of Internal Revenue (BIR).

BDO Securities Corporation has been appointed as the receiving and remitting agent. Brokers already onboarded to route STT payments through BDO include CGS-CIMB Securities, Citigroup Global Markets Singapore Securities, CLSA Singapore, Daiwa Capital Markets Singapore, DBS Vickers Securities, iFAST Financial, Instinet Singapore Services, JP Morgan Securities Singapore, KGI Securities Singapore, Lim & Tan Securities, Macquarie Capital Securities Singapore, Maybank Securities, OCBC Securities, Philip Securities, Tiger Brokers Singapore, UBS Securities Singapore and UOB Kay Hian.

If a broker ceases to use BDO or if BDO no longer acts as the agent, the broker must offer an alternative remittance channel to remain compliant. Until a replacement process is in place, clients of that broker may be unable to trade Emperador shares on the SGX-ST.

The current 0.1% rate applies until Jun, 30 2025; effective Jul, 01 2025 the rate will align with the provisions of Republic Act No. 12214, the Capital Markets Efficiency Promotion Act. Emperador advised investors to consult their brokers and professional advisers on the tax implications and any additional fees linked to STT remittance.