Emperador Inc. (EMI) said the sale of its shares on the Singapore Exchange Securities Trading Limited is subject to a stock transaction tax of 0.1 % of the gross selling price, which the Philippines Bureau of Internal Revenue considers a final tax payable by the seller.
The company noted that Singapore brokers must collect the tax at settlement and remit it to the Philippine authorities, typically through BDO Securities Corporation, which acts as the receiving and remitting agent.
As of this announcement, 18 Singapore brokers—including CGS-CIMB Securities (Singapore) Pte. Ltd., Citigroup Global Markets Singapore Securities Pte. Ltd. and DBS Vickers Securities (Singapore) Pte. Ltd.—have been onboarded with BDO.
If a broker stops using BDO as an agent, it must establish alternative remittance arrangements; otherwise, clients may be unable to trade Emperador shares on the SGX.
The 0.1 % tax rate will apply from Jul, 01 2025 under the Philippines’ Capital Markets Efficiency Promotion Act. Emperador advised investors to consult their brokers and professional advisers on the tax and any related fees.