Remittances tax: How Donald Trump's 'The One Big...

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Remittances tax: How Donald Trump's 'The One Big Beautiful Bill’ may turn out to be ugly for Indians in the US

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A proposed US bill, dubbed 'The One Big Beautiful Bill,' could impose a 3.5% remittance tax on money transfers from the US to India by 2026, impacting Indian immigrants, including H-1B visa holders and permanent residents. This legislation, awaiting Senate approval, may significantly increase the financial burden on the Indian community, potentially costing them over a billion dollars annually.

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