Who publishes this site and how its figures are read

The Dividend Desk is an independent editorial desk. It publishes one measurement: the US-Philippines treaty dividend rate, recalculated in pesos at the hour it is read.

The desk is independent

The Dividend Desk is an independent editorial desk. It is not a broker, not an exchange, not a licensed adviser, and it holds no client money. Its subject is one measurement, taken from named public sources and republished with the date and the hour it was read. The desk does not interpret the figure, does not advise what to do with it, and does not answer questions about a reader's own tax position. Nothing on the site is investment advice, a recommendation or an offer. The figures describe what things cost, not what a reader should do.

The desk has no accounts, no login, no newsletter and no comment form. It sets no cookie of its own, runs no analytics and stores nothing in the reader's browser. The pages are served by a hosting provider which, like any web host, keeps its own technical request logs; the site's publisher does not read a reader's personal data out of them. The only personal data the desk ever sees is what a reader chooses to write in an email to the address on the contact page.

Treaty rate and peso recalculation

Rates are read from the text of the income tax convention between the United States and the Philippines as published by the US tax authority. The treaty rate applies to a holder entitled to it who has filed the required form with the broker. The desk does not verify whether any particular reader is entitled to the treaty rate, and it does not know what form a reader's broker requires. The published figure is the rate stated in the convention text, not the rate any specific broker will actually withhold.

Peso amounts are recalculated at a rate taken from two independent sources at every reading. The sources are named under every table, with a link, so a reader can check the figure at its publisher. The desk does not select the exchange rate it prefers; it reads from the two sources and uses them as they are. If the two sources disagree, the desk does not publish a figure until the disagreement is resolved by checking a third source, and the third source is also named.

Desk responsibility and corrections

Responsibility sits with the publication's editorial desk: The Dividend Desk research desk. The desk reads the named sources at each update, checks that the figure matches the source, and publishes the date and hour of the reading. If a reader finds a figure that does not match the named source, the reader should write to the desk. Writing to the address on the contact page reaches the desk. Corrections are the reason the address exists: a figure that is wrong is corrected and the correction is dated.

The desk cannot answer questions about what a reader's broker will do, what tax a reader owes, or whether a reader is entitled to the treaty rate. Those are questions for a reader's own broker, accountant or tax adviser. The desk also cannot promise that a figure will remain unchanged between one reading and the next. The desk republishes the measurement with the hour it was read precisely because the figure can change.

The desk's only commercial relationship

The site links to one broker, FxPro, through an affiliate link, and is paid a commission if a reader opens an account there. The reader pays nothing to this site and nothing extra at the broker. The commission is paid by the broker, not by the reader. The desk does not receive any payment from any other source. It does not sell subscriptions, it does not sell data, and it does not accept advertising.

The broker's own site is operated by someone else, under its own terms and its own privacy policy, and following the link leaves this site. The desk does not control what the broker does with a reader's data, and it does not see any information a reader provides to the broker. The affiliate link is the only commercial relationship the desk has, and it is disclosed on every page where it appears, including this one.