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Datanomics: Remittance tax in Donald Trump's 'Big, Beautiful Bill'
A provision in Trump's new 'Beautiful Bill' suggests a 5% excise tax on all outward remittances by non-US citizens, raising the cost of transfers to countries like India
Yash Kumar Singhal New Delhi
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The Trump administration has dropped another bombshell after the 'tariff tantrum'. A provision in a bill called The One, Big, Beautiful Bill has proposed a five per cent excise tax on all outward remittances from the US, irrespective of the amount, to be paid by the sender.
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