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Desi diaspora set to take $1.6 billion hit as US plans bill to tax remittances
A proposed US bill, dubbed 'The One Big Beautiful Bill,' threatens to impose a 5% remittance tax on non-US citizens, including H-1B and green card holders, sending money abroad. This could significantly impact the Indian diaspora, who remit approximately $32 billion annually to India. If enacted, Indians in the US could face a $1.
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