Certification on Withholding Tax Rate on Cash Dividends

March 26, 2013 PSE MEMORANDUM NO. CN-0009-13 TO : All Brokers and Custodian Banks SUBJECT : Certification on Withholding Tax Rate on Cash Dividends In its regular meeting held on March 14, 2013, the Board of Directors of The Philippine Stock Exchange, Inc. ("PSE") declared a cash dividend equivalent to P9.00 per share, payable on April 26, 2013 to PSE stockholders of record as of April 2, 2013. In order to compute the net cash dividends payable to PSE shareholders of record as of April 2, 2013, the Exchange requires all brokers and custodian banks to submit a certification on the proper withholding tax rates (copy of draft attached). Please transmit the required certification no later than April 10, 2013 ; otherwise, the maximum withholding tax rate will be applied. For non-resident clients (non-resident foreign corporations or non-resident aliens not engaged in trade or business in the Philippines) who wish to avail of the preferential tax rates under existing Philippine tax treaties, the certification must be accompanied by copies of the Tax Treaty Relief Applications, complete with all the necessary documentary requirements, stamped received by the International Tax Affairs Division of the Bureau of Internal Revenue. Otherwise, PSE will apply the maximum withholding tax rate. aAHSEC Requests for the correction of withholding tax rate/s may be filed with the Controllership and Treasury Division of the PSE on or before May 6, 2013. You may transmit the certification to the following office by personal delivery or by facsimile to the following address or contact number: Stock Transfer Department Rizal Commercial Banking Corporation Address: Ground Floor West Wing, 221 Grepalife Building Senator Gil J. Puyat Avenue, Makati City Fax No: 8923139 For your information and guidance. (SGD.) MARIETTA U. TAN Head, Controllership and Treasury Division (SGD.) BUENAVENTURA S. SANGUYO, JR. Head, Office of the General Counsel ATTACHMENT [Date] THE PHILIPPINE STOCK EXCHANGE, INC. 2nd Floor, PSE Plaza, Ayala Triangle Ayala Avenue, Makati City Re : Certification on Withholding Tax Rate on PSE Cash Dividends Payable on April 26, 2013 Gentlemen: We certify that the following are the applicable withholding tax rates for our clients in the list below and that we have the documents required to support the tax treatment pursuant to existing law and regulations as summarized in the attached table (Annex "A" hereof). In support of our non-resident clients' use of the preferential tax rates under existing Philippine tax treaties and in compliance with the requirement of Revenue Memorandum Order No. 72-2010, we submit herewith copies of the Tax Treaty Relief Applications, complete with all the documentary requirements, stamped received by the International Tax Affairs Division of the Bureau of Internal Revenue. In Vault In Transit No. of Nationality Applicable No. of Nationality Applicable Shares (Local/ tax rate Shares (Local/ tax rate Foreign) Foreign) Individual _________ __________ __________ _________ _________ ________ Corporate _________ __________ __________ _________ _________ ________ Further, we certify that for the following clients, the applicable withholding tax rate is the maximum withholding tax rate because these clients failed to submit the required documentation to us based on Annex "A" hereof. In Vault In Transit No. of Nationality Applicable No. of Nationality Applicable Shares (Local/ tax rate Shares (Local/ tax rate Foreign) Foreign) Individual _________ __________ __________ _________ _________ ________ Corporate _________ __________ __________ _________ _________ ________ Certified by: ________________________________ [Name of Broker/Custodian Bank] [Title] ANNEX A Tax Treatment Table for Stockholders Taxpayer Supporting Documents Withholding Withholding Classification Required Tax Rate with Tax Rate Supporting w/out Documents Supporting Documents A. Corporations 1. Domestic Original or certified true copy 0% 30% Corporation of SEC Certificate of Registration and Articles of Incorporation 2. Resident Foreign Original or certified true copy 0% 30% Corporation of SEC License to Do Business 3. Non-Resident Copy of Tax Treaty Relief Applicable tax 30% Foreign Application, complete with treaty rate ranging Corporation all the necessary documentary from 10% to 25% availing of tax requirements, stamped received treaty relief by the International Tax Affairs Division of the Bureau of Internal Revenue 4. Non-Resident None 30% 30% Foreign Corporation not availing of tax treaty relief B. Individuals 1. Filipino Citizen Photocopy of any one of the 10% 25% (Resident or following: Non-Resident) 1. Birth Certificate; or 2. Valid Philippine Passport; or 3. Valid Philippine Driver's License; or 4. Any valid government- issued ID such as SSS, GSIS, PRC, etc. 2. Resident Alien Photocopy of Passport with 10% 25% duly stamped Philippine VISA and any of the following: a. Valid Alien Certificate of Registration (ACR) or I-card or any other ID issued by the Bureau of Immigration; or b. Latest Philippine Income Tax Return. 3. Non-Resident 1. Passport showing exact 20% 25% Alien engaged in number of days of stay trade or business in the Philippines for an in the aggregate period of more Philippines than 180 days during the calendar year; or 2. Latest Philippine Income Tax Return. 4. Non-Resident None 25% 25% Alien not engaged in trade or business not availing of tax treaty relief. 5. Non-Resident Copy of Tax Treaty Relief Applicable tax 25% Alien not Application, complete with treaty rates ranging engaged in trade all the necessary documentary from 10% to 25% or business in the requirements, stamped Philippines received by the International availing of tax Tax Affairs Division of the treaty relief. Bureau of Internal Revenue.