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Trump’s proposed tax on remittances ‘a concern’ for PHL

19 June 2025
in Business
Reading Time: 5 mins read
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Trump’s proposed tax on remittances ‘a concern’ for PHL
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By Aubrey Rose A. Inosante, Reporter

US PRESIDENT Donald J. Trump’s proposal to tax the money sent home by foreign workers, may hurt the Philippine economy as remittances and household consumption are likely to slow, experts said.

Finance Secretary Ralph G. Recto said the “One, Big, Beautiful Bill Act,” if passed into law in the US, is “a concern” for the Philippines which relies heavily on remittances from overseas Filipino workers (OFWs).

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