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Taxing time for migrants
Business Standard
|May 27, 2025
The remittance tax furthers Trump's anti-immigrant agenda
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Embedded in the "big, beautiful" tax-and-spend Bill that the United States (US) House of Representatives passed by a razor-thin margin of one vote (215 for, 214 against) is a small, unattractive provision that is likely to hit a range of non-citizens in the US. This is the 3.5 per cent "remittance tax" that is to be imposed on all green card and non-immigrant visa holders in the categories of H1B, L1 (which allow multinationals to temporarily transfer employees from foreign branches to the US) and F1 (students). The tax cannot be offset against other federal or state taxes paid in the US. Though there is general relief that the tax has been reduced from 5 per cent in the original clause, the impost is likely to have unintended negative consequences.
Cette histoire est tirée de l'édition May 27, 2025 de Business Standard.
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