Mad for those sharing regarding the tax on long term deposits. Even media people confusing the masses.
“Tax is applied to all facets of income with its exceptions”
The tax only applies on the INTEREST INCOME, not the deposit itself. If titignan niyo naman sa bank apps niyo, every month may interest income and a deduction of withholding “WT” tax. It’s there sa normal deposits in the first place, di lang naimpose agad agad sa long term deposits.