OFWs hit documentary stamp tax on remittance

BACOLOD CITY, Philippines - Migrante, an alliance of overseas Filipino workers’ organizations, said the impending documentary stamp tax (DST) imposition on all international transfers, including OFW remittance, is but another scheme of state exaction burdening OFWs and families.

Migrante spokesperson John Monterona told Sun.Star Bacolod in a phone interview that they “deplore the Congress for formulating tax legislation, courtesy of pro-Arroyo senators and congressmen, devoid of consultation and public hearing imposing the DST.

“This impending tax imposition on OFWs remittance is but another scheme of state exaction burdening and exploiting OFWs and families in time of soaring prices of food and relatively weak dollar exchange," said Monterona.

Monterona said Migrante and other OFWs got the information that the Arroyo administration would soon be imposing the DST on all international transfers from a branch of Western Union based in the United Arab Emirates.

“Our sources have confirmed this impending imposition equivalent to 0.15% of the remitted amount," he added.

“The DST will cover all remittance companies and banks in the Philippines."

Monterona said the OFWs and their families will reject this additional tax imposition on OFWs’ meager income, where most OFWs are receiving salary ranging from US$250 to US$400 monthly, especially in time of economic crisis.

“If an OFW is to send US100, which is P4,160 based on the current exchange rate, the 0.15% (DST) is P6.24, which would be deducted from his remittance, (aside from the remittance fee of 35 Riyals (P130) charged by the remittance center where he send his remittance).

The remittance to be receive by the OFW family is obviously not enough in time of soaring prices of food and basic commodities," Monterona added. - Sun.Star Bacolod »

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