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Tag: 5% tax on sending money abroad

Relief for Indians Abroad: Trump Cuts Remittance Tax

Relief for Indians Abroad: Trump Cuts Remittance Tax

Trump Cuts Remittance Tax: The Donald Trump government has reduced the tax on remittances sent by foreigners working and doing business in the United States to their countries . Although it was previously announced that a 5% tax would be levied, it has been reduced to 3.5%. The latest decision will provide relief to Indians […]

Trump Proposes 5% tax on sending money abroad

Trump Proposes 5% tax on sending money abroad

The Trump administration is planning to introduce a new tax law called ‘The One Big Beautiful Bill’, which would impose a 5% tax on remittances from the US to other countries. This would be a major setback for Indians living in the US, especially those who send money to their families. Trump hopes to use […]

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