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PHL remittances may fall 1.4% if Trump tax is implemented

23 June 2025
in Business
Reading Time: 3 mins read
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PHL remittances may fall 1.4% if Trump tax is implemented
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REMITTANCE inflows to the Philippines may fall by 1.4% if US President Donald J. Trump’s proposed tax on money sent home by foreign workers is implemented, Deutsche Bank Research said.

In a June 20 note, Deutsche Bank Research said Philippine remittances have been “sluggish” in recent months and face more downside risks if the so-called “One Big Beautiful Bill” is signed into law in the US.

“The imposition of such a tax in the US could lead to a 1.4% decline in remittance inflow (0.1% of gross domestic product) to the Philippines,” it said.

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