US Edition
Mexico Opposes Proposed US Tax on Remittances
- On June 5, 2025, the U.S. House narrowly approved the 'One Big Beautiful Bill Act' by a 215-214 vote, which imposes a 3.5% excise tax on money transfers sent overseas by non-citizens living in the United States.
- The tax applies to remittances sent by non-U.S. citizens living in the country, including those with permanent resident status and individuals on temporary visas, with the goal of financing border security and immigration enforcement beginning January 1, 2026.
- In 2024, overseas Filipinos sent $38.34 billion in remittances, with $15.7 billion coming from the U.S., supporting millions of families and representing 8.3% of the Philippines' GDP.
- Critics warn the tax would burden legal immigrants, yield negligible security benefits, and might push senders toward informal channels that are harder to regulate and vulnerable to fraud.
- Affected countries like the Philippines express concern over economic instability and may pursue bilateral talks or treaties to protect families reliant on U.S.-based remittances.
23 Articles
23 Articles
Mexico City.- The Senate reported that the delegation of legislators who traveled to Washington to talk with their peers about the tax on remittances, concluded their visit with the confidence to reverse the tax. In a statement, the upper House reported that the senators managed to make Republicans and Democrats aware of the social, economic and security implications that would generate a 3.5 percent tax on remittances sent by nationals to Mexic…
U.S. to Tax Remittances, Raises Alarm for Filipino Families - Asian Journal News
President Trump’s 2025 remittance tax proposal, now passed by the House, targets non-citizens sending money abroad. Overseas Filipinos and global economies brace as Senate debate looms. WASHINGTON, D.C. —... The post U.S. to Tax Remittances, Raises Alarm for Filipino Families appeared first on Asian Journal News.
Senators from the House's plural entourage held meetings with Republican legislators Marsha Blackburn and Roger Marshall, as well as Democratic Senator Peter Welch, on June 4, in Washington to discuss the economic repercussions of the 3.5 percent tax on remittances sent from the United States.During the meetings, senators highlighted their rejection of any attempt to add a tax on remittances, considering that this measure would be unfair, discri…
In recent weeks, the Internet has been buzzing. Every iron has commented by "experts" who are scared of huge taxation, as much as 23% of the turnover, all those who are on the map. Here's a very well-known blogger: "From 1 May 2025, Ukrainians have to pay taxes on bank transfers, except for the money transferred by their next of kin. You have to pay even if it's a donate to the U.S.U.S.A. 18% NPFL + 1.5% military fee. What do you do now for volu…
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