Migrante International - Who’s afraid of Zero Remittance Day?

September 6, 2013

FOR IMMEDIATE RELEASE

Reference: Garry Martinez, Chairperson, 0939-3914418

Gov’t earns at least 0.15% for every P200 remittance per day

Global alliance of overseas Filipinos Migrante International today criticized presidential spokesperson Edwin Lacierda for undermining the outrage, unity and collective action of overseas Filipinos against the pork barrel system.

In a statement, Lacierda mocked initiatives of overseas Filipinos to launch a “Zero Remittance Day for Zero Pork!” on September 19 – the same way that Malacanang earlier belittled the Million People March last August 26.

“We would like to thank Mr. Lacierda for further fuelling the rage of overseas Filipinos. His statement is clearly and obviously false bravado. More and more Filipino im/migrants and OFWs are expressing support for the Zero Remittance Day. May dahilan para kabahan ang mga pilit pa ring nagtatanggol sa pork barrel system,” said Garry Martinez, Migrante International chairperson.

Martinez also hit Lacierda’s attempt to preempt the Zero Remittance Day by saying that OFW’s families will be affected.

“It is simply not true but a desperate ploy to discourage OFWs and their families from expressing their protest. Families of OFWs will not be affected by the ZRD. If anything, only the government’s one-day earnings from OFW remittances will be hit,” he said.

Martinez said that the Philippine government implements the Documentary Stamp Tax (DST) which automatically cuts 0.15% for every P200 remittance, or 30 centavos.

According to data from the Philippine Overseas Employment Administration (POEA), the government earns around $1.4 million in DST from OFW remittances monthly.

Last 2012, OFW remittances reached a whopping USD$21 billion. “That’s $57.5 million a day, or Php2.5 billion from which the government earns 0.15% for every P200 remittance. That’s just for the DST. Other taxes and cuts generated by the government from banking transactions are not yet included.”

The DST is on top of service fees charged by foreign and local banks, plus the 50 centavo per dollar margin that domestic banks are allowed to charge when paying out remittances in pesos.

“It goes without saying that withholding a day’s worth of OFW remittances will have a direct impact in the economy. Walang ibang mababawasan kundi ang kinikita ng gobyerno mula sa mga OFW remittances. Kumpara rito, barya-barya lang ang nakukuha ng mga pamilya.”

“Through the DST, OFWs are also taxpayers, and they have every right to express dissent on how their hard-earned remittances are being spent by this government,” Martinez said. ###

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Website: http://migranteinternational.org
Office Address: #45 Cambridge St, Cubao, Quezon City
Telefax: 9114910

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Website: http://migranteinternational.org
Office Address: #45 Cambridge St, Cubao, Quezon City
Telefax: 9114910