Jerry Vale R. Garcia Accounting Office

FYI ‼️‼️ Please READ and be cautious to clickbait and misleading posts.

It's NOT a 20% TAX on REGULAR SAVINGS ACCOUNT ❗️

It's a 20% TAX on the INTEREST INCOME the following:

LONG-TERM TIME DEPOSITS
LONG TERM PESO-BONDS/INVESTMENTS

So, if you're just an ordinary citizen having a regular savings account on a bank, you're not affected.

I hope all the persons reacting and sharing hate posts and comments really understand the RA 12214 and do have their long-term time deposits and long-term bonds/investments.

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