Banner
Workflow

US House Republicans Propose 5% Tax on Remittances by Non-Citizens

Contact Counsellor

US House Republicans Propose 5% Tax on Remittances by Non-Citizens

AspectDetails
Bill Title"The One Big Beautiful Bill"
SectionSection 112105
Proposed Tax5% excise tax on international remittances by non-US citizens
Affected GroupsH-1B visa holders, F-1 student visa holders, Green card holders, NRIs, etc.
Tax CollectionCollected by remittance service providers, remitted quarterly to US Treasury
Impact on Indians$23 billion remitted in 2023; $50 tax for every $1,000 sent
Potential EffectsDiscourages formal remittance channels, affects family support, investments
Key ConcernsDiscriminatory nature, economic implications, potential tax treaty override

Categories