Governments have spent decades trying to stamp out informal money transfers. This will push payments back underground.

President Donald Trump’s “One Big Beautiful Bill” includes a 3.5 per cent excise tax on remittances sent abroad by non-US ...

India could consider countermeasures under the principle of reciprocity and tax outward remittances by US companies and ...

In a huge comfort for the majority of NRIs in the US, the tax on remittances established by US immigrants has been lowered.

The U.S. House has passed a 3.5% remittance tax on funds sent home by immigrants, sparking concerns over economic impact in ...

This is in light of a new Trump policy that imposes a 5-percent excise tax on remittances flowing out ... Institute for Migration and Development Issues (IMDI) Executive Director Jeremaiah M.

Trump remittance tax: India could potentially lose up to $18 billion dollars annually in foreign remittances if US President Donald Trump’s proposed 5% remittance tax law comes into effect in ...

According to the rules, the tax would be collected by banks and remittance service providers, who would remit the funds quarterly to the US Treasury. For India, the stakes are high. The country ...

Trump's new tax proposal has triggered alarm across the globe, particularly in India, which has been one of the biggest beneficiaries of the US remittances. US President Donald Trump's decision to ...

A proposed 5 per cent US tax on remittances sent abroad by non-citizens is raising alarm in India as it may hit Indian households and the rupee, economic think tank GTRI said on Sunday.

A proposed 5% US tax on remittances from non-citizens is alarming India, potentially impacting households and the rupee. With India receiving $120 billion in remittances in 2023-24, a significant ...