Change in the Monthly Billing
PSE Memorandum No. CN-0012-13 • Philippine Stock Exchange • Memoranda • Apr 10, 2013
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April 10, 2013 PSE MEMORANDUM NO. CN-0012-13 TO : All Trading Participants SUBJECT : Change in the Monthly Billing In its regular meeting held on March 13, 2013, the Board of Directors of The Philippine Stock Exchange, Inc. ("PSE") approved, effective immediately, the adoption of the cost model setting the financial contribution to the Capital Markets Integrity Corporation ("CMIC") at a fixed amount based on its approved annual budget. This amends the present funding model whereby 40% of transaction fees is ceded to CMIC. Hence, in the billing starting March 2013, the full amount of transaction fees and the corresponding taxes (VAT and creditable withholding tax) will accordingly be reflected as due to the PSE (for the VAT) and for the account of the PSE (for the creditable withholding tax). For information and guidance. (SGD.) HANS B. SICAT President and CEO <http://www.pse.com.ph/resource/memos/2013/CN_2013-0012.pdf> last visited April 25, 2013.
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