Emperador Inc. (EMI) said that sales of its shares on the Singapore Exchange Securities Trading Limited are subject to a 0.1% stock transaction tax (STT) on the gross selling price, payable to the Philippines Bureau of Internal Revenue. The tax, which is a final levy on the seller, is to be collected and remitted by the selling stockbroker at settlement.
BDO Securities Corporation has been appointed as the receiving and remitting agent, and 17 Singapore brokers—among them CGS-CIMB Securities (Singapore) Pte. Ltd., Citigroup Global Markets Singapore Securities Pte. Ltd. and DBS Vickers Securities (Singapore) Pte. Ltd.—have been onboarded to channel the remittances through BDO. Brokers may also remit the tax through other avenues, including Philippine affiliates.
Emperador noted that if a broker’s arrangement with the receiving agent ends and no alternative remittance method is in place, clients of that broker may be unable to trade the company’s shares on SGX. The STT rate was reduced from 0.6% to 0.1% and will be maintained at this level from Jul, 1 2025 under the Capital Markets Efficiency Promotion Act (Republic Act No. 12214).
The company urged investors to consult their advisers and brokers regarding STT obligations, as well as any additional fees tied to its payment to the Philippine tax authority.