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DMCI Holidngs Guidelines of Cash Dividend Distribution

Notice is hereby given to all stockholders of DMCI Holdings, Inc. (the "Company") as of June 15, 2012 ("Record Date") on the following guidelines for the distribution of cash dividends declared in the meeting of the Board of Directors held on May 15, 2012 in the amount of Phpl.20 per common share (the "Dividends") payable on July 5, 2012 ("Payment "Date"):
DMCI Holidngs Guidelines of Cash Dividend Distribution

1.  The Dividends to be distributed to the stockholders will be subject to the following final withholding tax rates prescribed under the National Internal Revenue Code ("NIRC"):

TaxpayerFinal Withholding Tax Rate
Individual citizenTen percent (10%)
Individual resident alienTen percent (10%)
Non-resident alien individuala. Engaged in trade or business - Twenty percent (20%)
b. Not engaged in trade or business - Twenty five (25%)
Domestic corporationexempt
Resident foreign corporationexempt
Non-resident foreign corporation (NRFC)a. Thirty percent (30%)
b. If current BIR rulings or jurisprudence indicate that the tax sparing requirement under Section 28 (B) (5)(b), NIRC, is complied with, i.e., that the country of residence of the NRFC allows a deemed paid tax credit of fifteen percent (15%) on taxes due from the NRFC - Fifteen percent (15%)

2.  FOR NON-RESIDENT FOREIGN STOCKHOLDERS (CORPORATE OR INDIVIDUAL) CLAIMING ENTITLEMENT TO APREFERENTIAL TAX RATE ON DIVIDEND INCOME UNDER A TAX TREATY. - Any foreign stockholder (the "Claiming Stockholder") claiming entitlement to a preferential tax rate on dividend income under a tax treaty with the Republic of the Philippines shall be required to submit the following documents to the Company not later than June 29, 2012, 5:00 p.m. (Manila Time):
  1. a filed complete application (together with the documentary requirements) for tax treaty relief prepared in accordance with Revenue Memorandum Order No. 72-20'10, which has been reviewed and confirmed as valid by the Company or its counsel and duly received by the Bureau of Internal Revenue - International Tax Affairs Division (" BIR-ITAD"); and
  2. a signed and duly notarized / consularized (if issued abroad) indemnity undertaking in the form attached as Annex A hereof; and
  3. duly notarized / consularized (if issued abroad) hoard resolution authorizing the execution of the indemnity undertaking and designating the authorized signatories therefor.
Upon submission of the documents above, the Claiming Stockholder shall he entitled to avail of the preferential tax rate. If the Claiming Stockholder is unable to submit the documents within the time prescribed, the Company will withhold and remit the taxes at the applicable withholding tax rates.

3. FOR NON-RESIDENT FOREIGN CORPORATIONS CLAIMING THE TAX SPARING RATE OF 15%, - Any foreign stockholder (the "Claiming Stockholder") claiming entitlement to the 15% tax rate on dividend income under Section 28(B)(5)(h) of the NIRC shall be required to submit the following documents to the Company not later than June 29, 2012, 5:00 p.m. (Manila Time):
  1. Certified copy of a BIR ruling addressed to it confirming the application of the tax sparing rate of 15%; or
  2. Signed and duly notarized / consularized (if issued abroad) indemnity undertaking in the form attached as Annex A-1 hereof, together with a duly notarized / consularized (if issued abroad) board resolution authorizing the execution of the indemnity undertaking and designating the authorized signatories therefor.
Upon submission of the required document, the Claiming Stockholder shall be entitled to avail of the 45% tax sparing rate.
If the Claiming Stockholder is unable to submit the required document within the time prescribed, the Company will withhold and remit the taxes at the regular 30% withholding tax rate.

4.  FOR STOCKHOLDERS CLAIMING TAX EXEMPTION. - Any stockholder (the "Claiming Stockholder") claiming exemption from withholding tax in respect of the Dividends in accordance with any provision of the NIRC or special law shall he required to submit the following documents to the Company not later than June 29, 2012, 5:00 p.m. (Manila Time):
  1. Certified copy of a BIR ruling addressed to it confirming the exemption claimed; or
  2. Signed and duly notarized / consularized (if issued abroad) indemnity undertaking in the form attached as Annex A-2 hereof, together with a duly notarized / consularized (if issued abroad) board resolution authorizing the execution of the indenmity undertaking and designating the authorized signatories therefor.
Upon submission of the documents, the Claiming Stockholder shall be entitled to receive the Dividends without deduction for withholding tax.

If the Claiming Stockholder is unable to submit the required documents within the time prescribed, the Company will withhold and remit the taxes at the applicable withholding tax rates.

5.  For any questions on the foregoing, you may contact any of the following:

Mr. Aidric G. Borlaza
3/F Dacon Building
2281 Don Chino Roces Avenue, Makati City
Telephone No. 888-3000 loc. 1554

Atty. Noel A. Laman or Atty. Ma. Pilar Pilares-Gutierrez 
The Valero Tower
122 Valero Street, Satcedo Village, Makati City
Telephone No. 817-6791 to 95
- https://www.affordablecebu.com/
 

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"DMCI Holidngs Guidelines of Cash Dividend Distribution" was written by Mary under the Business category. It has been read 2380 times and generated 1 comments. The article was created on and updated on 05 June 2012.
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