 
        
                    
            Philippine banks to put PEACe bond tax in escrow
Eight local lenders asked the court to stop the government from imposing a 20% tax on interest income from Php35b worth of bonds.
According to a Bloomberg report, the Philippine Supreme Court ordered banks to place tax payment on so-called PEACe bonds in an escrow, spokesman Midas Marquez said today in Manila.
	The high court didn’t issue a restraining order sought by Philippine banks, Marquez said. Eight local lenders yesterday asked the court to stop the government from imposing and collecting a 20 percent tax on interest income from 35 billion pesos worth of bonds due today. The government expects to collect almost 5 billion pesos in taxes from the bonds.
	 
 
  
                     
  
                     
                                       
                                       
                                       
                                       
                                                           
                                                           
                                                           
                                                           
           
                                 
                                 
                                 
               
                                     
                                     
                                     
 
                                                                                                
                                                
                                                                                                                                         
 
                                                                                                
                                                
                                                                                                                                         
 
                                                                                                
                                                
                                                                                                                                         
 
                                                                                                
                                                
                                                                                                                                         
                             
                     
                             
                     
                             
                             
                     
                             
                 
                 
                 
                 
                 
                 
                