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Trump's Remittance Tax to Hit India: Report
The Daily Guardian
|May 19, 2025
If enacted, the legislation would target money transfers made by non-US citizens, including green card holders and workers on temporary visas like H-1B and H-2A.
U.S. President Donald Trump's decision to impose a 5 percent tax on international remittances sent by non-citizens will significantly impact Indian households, said Global Trade Research Initiative (GTRI), a trade-focused research group, in its latest report.
The proposed U.S. legislative move has triggered alarm across the globe, particularly in India, which has been one of the biggest beneficiaries of U.S. remittances.
These provisions are part of a major legislative package titled 'The One Big Beautiful Bill', introduced in the U.S. House of Representatives on May 12.
This story is from the May 19, 2025 edition of The Daily Guardian.
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