US Tax On Outward Remittances To Pinch Indians Sending Money Home

A new US bill has come for immigrants, which has created a stir among the immigrant community. The proposal is about dollars sent abroad. It is proposed that 5% excise duty will have to be paid on every dollar. This can be a big blow especially for India.

On Friday, the most conservative members of the Republican Party in the lower House gave a harsh defeat to President Donald Trump and his leaders by joining the Democrats to curb a massive tax and spending plan driven by the President that included the levy on remittances. With 21 votes against and only 16 votes in favour, a handful of Republican congressmen from the most conservative wing of his party sank into the Budget Committee the massive …

US President Donald Trump is once again in the headlines, this time for proposing a new law, which has sparked a wave of concern among the Indian diaspora. This proposal is being informally called "The One Big Beautiful Bill". According to the draft of the new law, it has been recommended to impose a 5% tax on the money sent by foreign nationals to their country. If this law is passed, it will directly affect Indian NRIs. For example, if an NRI …

NRIs May Soon Pay ₹5,000 Tax for every ₹1 Lakh Sent to India!

The President of United States, Donald Trump appears to made it a mission to irk the Indian community that has been staying in the United States. Almost every week, we have some sort of update from Trump that would directly affect the Indian and also the international population. The Trump administration is now contemplating something of this sort as they have backed a legislation which would mandate a taxation slab for outbound transactions fro…

What You Should KnowPresident Donald Trump ended his tour of the Middle East in Abu Dhabi this Friday and will return to Washington DC in the evening.The Supreme Court struck a hard blow Friday to the Trump administration's attempt to send Venezuelans to El Salvador, arguing that they must have the right opportunity to raise legal objections.Trump said the U.S. was “in very serious negotiations with Iran for a lasting peace” and “approaching” to…

New US Bill to levy 5% Tax on Remittances by Indian Diaspora - The Canadian Media

#Trump remittance tax# One Big Beautiful Bill Act# Indian workers in US# US remittance policy Washington DC/IBNS-CMEDIA: US President Donald Trump’s proposed legislation — the “One Big Beautiful Bill Act” — is raising alarm among Indian professionals in America due to a controversial clause that seeks to tax cross-border remittances. While the bill is pitched as a sweeping reform combining tax breaks, reduced public expenditure, and tighter bord…