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We recently received an email from one of our readers asking how to determine the interest earnings on his time deposit account. In response, we explain below how exactly it’s being computed.
Got my Google Adsense earnings via Western Union last week and like what we reported here last month, they are now charging the Documentary Stamps Tax on all incoming remittances.
The deduction was exactly 0.15% of my payment balance. It’s still not that much — just P1.50 for every P1,000 — but it’s still money I could have spent for myself.
The good news is that the additional 0.15% tax on all incoming overseas remittances was supposed to start May 30, 2008 but, until now, this has not been implemented.
The bad news is that the collection of this tax will start anytime soon.
Last week when I picked up my Google Adsense earnings from Western Union, they told me that the additional Documentary Stamp Tax (DST) tax on remittances will start “sometime this June.”
