2011 Annual Report Financial Supplements - BDO

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27.04 Gross Receipts Tax (GRT)/ Value-added Tax (VAT)Beginning January 1, 2003, the imposition of VAT on banks and financial institutions becameeffective pursuant to the provisions of RA No. 9010. The Parent Bank and BDO Privatebecame subject to VAT based on their gross receipts, in lieu of the GRT under Sections 121and 122 of the Tax Code which was imposed on banks, non-bank financial intermediaries andfinance companies in prior years.However, on January 29, 2004, RA No. 9238 reverted the imposition of GRT on banks andfinancial institutions.On May 24, 2005, the amendments on RA No. 9337 was approved amending, among others,the gross GRT on royalties, rentals of property, real or personal, profits from exchange and onnet trading gains within the taxable year on foreign currency, debt securities, derivatives andother similar financial instruments from 5% to 7% effective November 1, 2005.27.05 Documentary Stamp Tax (DST)Documentary stamp taxes (at varying rates) are imposed on the following:(a) Bank checks, drafts, or certificate of deposit not bearing interest, and other instruments;(b) Bonds, loan agreements, promissory notes, bills of exchange, drafts, instruments andsecurities issued by the Government or any of its instrumentalities, deposit substitute debtinstruments, certificates of deposits bearing interest and other not payable on sight ordemand;(c) Acceptance of bills of exchange and letters of credit; and,(d) Bills of lading or receipt.On February 7, 2004, RA No. 9243 was passed amending the rates of DST, the significantprovisions of which are summarized below.(a) On every issue of debt instruments, there shall be collected a DST of one peso on eachtwo hundred pesos or fractional part thereof of the issue price of any such debtinstrument. Provided, that for such debt instruments with terms of less than one year, theDST to be collected shall be of a proportional amount in accordance with the ratio of itsterm in number of days to 365 days. Provided further that only one DST shall beimposed on either loan agreement or promissory notes to secure such loan.(b) On all sales or transfer of shares or certificates of stock in any corporation, there shall becollected a DST of 75 centavos on each two hundred pesos, or fractional part thereof, ofthe par value of such stock.(c) On all bills of exchange or drafts, there shall be collected a DST of 30 centavos on eachtwo hundred pesos, or fractional part thereof, of the face value of any such bill ofexchange or draft.www.bdo.com.ph 137
NOTES TOFINANCIAL STATEMENTSDECEMBER 31, 2011, 2010 AND 2009(Amounts in Millions of Philippine Pesos, Except Per Share Data or As Indicated)(d) The following instruments, documents and papers shall be exempt from DST:Borrowings and lending of securities executed under the Securities Borrowing andLending Program of a registered exchange, or in accordance with regulationsprescribed by the appropriate regulatory authority;Loan agreements or promissory notes, the aggregate of which does not exceed P250thousand or any such amount as may be determined by the Secretary of Finance,executed by an individual for his purchase on installment for his personal use;Sale, barter or exchange of shares of stock listed and traded through the local stockexchange for a period of five years from the affectivity of RA No. 9243;Fixed income and other securities traded in the secondary market or through anexchange;Derivatives including repurchase agreements and reverse repurchase agreements;Bank deposit accounts without a fixed term or maturity; and,Interbank call loans with maturity of not more than seven days to cover deficiency inreserve against deposit liabilities.27.06 Supplementary Information Required by the Bureau of Internal RevenueOn December 9, 2011, the Bureau of Internal Revenue (BIR) issued RR 19-2011 whichprescribes the new form that will be used for income tax filing covering and starting withperiods ending December 31, 2011 and onwards. This recent RR requires schedules oftaxable revenues and other non-operating income, costs of sales and services, and itemizeddeductions, to be disclosed in the notes to financial statements.On November 25, 2010, the BIR issued RR No. 15-2010, which requires certain informationon taxes, duties and license fees paid or accrued during the taxable year to be disclosed as partof the notes to financial statements.The Parent Bank, however, presented this tax information required by the BIR as asupplementary schedule filed separately from the basic financial statements.
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REPORT OFINDEPENDENT AUDITORSReport
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STATEMENTS OFINCOMEFOR THE YEARS EN
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BALANCE AT JANUARY 1, 2009 P 23,020
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FOR THE YEARS ENDED DECEMBER 31, 20
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1.02 Approval of Financial Statemen
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(ii) Philippine Interpretation IFRI
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PFRS 7 (Amendment), Financial Instr
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(v)PFRS 9, Financial Instruments: C
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BDO Unibank Group accounts for its
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Regular purchases and sales of fina
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Subsequent to initial recognition,
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Certain derivatives may be designat
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NOTES TOFINANCIAL STATEMENTSDECEMBE
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Page 87 and 88: NOTES TOFINANCIAL STATEMENTSDECEMBE
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Page 149: COMPANY HEADQUARTERSBDO Unibank, In
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2011 Annual Report Financial Supplements - BDO

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