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Where the Money Goes: Map, Charts Show Migrant Remittance Payments
9 Articles
9 Articles
Former senator Emilio Álvarez Icaza reported that the United States was already charging a supposed 15% remittance tax, but it was denied by both the federal government and social media users. “A Mexican friend who lives in the United States wrote to me today. He sent money home today as he usually does and found the outrageous news that he was charged a 15% tax for what they called incom tax,” he wrote in his X account. You may also be interest…
Do remittance inflows reduce growth instability in Sub-Saharan Africa?
Remittances have become one of the most important sources of development finance in developing countries, particularly in sub-Saharan Africa. They provide a stable source of household income for consumption and can therefore play a role in stabilizing economic cycles. Indeed, migrant remittanc...
The Business & Financial Times
GH HeadlinesAfrica must not stay silent on the U.S. remittance tax
By Prince Kojo TABIRI Esq. & Eric AKUAMOAH-BOATENG On May 22nd 2025, the United States House of Representatives passed the “One, Big, Beautiful Bill Act,” which includes provisions to impose a 3.5 percent tax on money sent abroad by immigrants, effective January 1, 2026, pending Senate approval. The bill targets non-U.S. citizens, including those on non-immigrant visas and green card holders who remit funds abroad. If enacted, the bill will dir…
Trump Targets Key Lifeline For Africa: Money Sent Home By Immigrants – The Standard Newspaper
After slashing foreign assistance and introducing steep tariffs, the Trump administration is proposing a new tax on remittances. African nations would be among the hardest hit. By Saikou Jammeh and Ruth MacleanReporting from Dakar, Senegal The Trump administration’s “One Big, Beautiful Bill” could make the United States the most expensive of the Group of 7 countries from which to send money, dealing another blow to poor nations already reeling f…
The proposal to adopt a 3.5% tax on remittances in the United States could lead to depreciation in the currencies of countries in Latin America in the face of lower dollar inflows and impact consumption, especially in the Central American and Caribbean countries most dependent on these money flows. Donald Trump's plan to tax remittances is part of the legislative package called “The One, Big, Beautiful Bill,” which was presented by the Media and…
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