exchange rate
0.15% Tax to all International Transfers in the Philippines
Starting May, all international transfers will be subjected for a 0.15% Documentary Stamp Tax (DST). This will apply to all remittance companies and banks in the Philippines.
The money worth Php 4,160 ($100) for example will become Php 4,153.76, that is after the Php 6.24 was less from the original amount due to the 0.15% DST [...]
Government answer on OFW Exchange Rate Campaign
Last week I received an online petition / open letter to President Arroyo recommending to have a special exhange rate (Php50=$1) for OFW’s. The campaign was circulated via e-mail encouraging OFW recipient to sign online petition as a show of support. Sir Bong of OFWempowerment had already made a post about this open [...]
