Trump's 5% Remittance Tax to Hit Indian Households Hard: GTRI

US 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.

- TBG NETWORK

The proposed US legislative move has triggered alarm across the globe, particularly in India, which has been one of the biggest beneficiaries of the US remittances.

These provisions are part of a major legislative package titled 'The One Big Beautiful Bill', introduced in the US House of Representatives on May 12.

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.

The proposed legislation exempts American citizens.