HOUSE PANEL APPROVES BILL THAT WILL GIVE DISCOUNTS AND LIMIT CHARGES ON OFW REMITTANCE FEES
The House Committee on Ways and Means on Tuesday approved the measure that will give overseas Filipino workers a discount and limited charges on fees on remittances when sending money to their families in the Philippines.
House panel approved the proposed “Overseas Filipino Workers Remittance Protection Act,” which is principally authored by Deputy Speaker Aurelio “Dong” Gonzales.
According to him, it is a “matter of utmost urgency and necessity for Congress to enact a law that will adequately and effectively put a stop to the imposition of high remittance charges and safeguard the remittances sent by OFWs.”
It added that remittance fees should not pass P24,000 every taxable year for each OFW.