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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