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US Remittances Tax: Experts Warn of Higher Costs for Consumers and Operational Challenges for Money Transfer Providers - Fintech Schweiz Digital Finance News - FintechNewsCH
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US Remittances Tax: Experts Warn of Higher Costs for Consumers and Operational Challenges for Money Transfer Providers - Fintech Schweiz Digital Finance News - FintechNewsCH
In May, the House Republicans’ “One Big Beautiful Bill Act” passed through the US House of Representatives, outlining US President Donald Trump’s tax agenda for the next few years and introducing a new 3.5% tax on remittances by non-citizens. A new analysis by FXC Intelligence, a data platform specializing in the cross-border payment and e-commerce sectors, explores the potential effects of the proposed tax on money transfers, warning of increas…
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