US Edition
11 Articles
11 Articles
The U.S. Senate drastically reduced the remittance tax from 3.5% to 1% by adopting Tuesday's mega-budget bill, a relief for migrants who send money to Latin America.
U.S. Senate secures, in Trump's fiscal plan, 1% tax on remittances made in cash, money orders and cash cheques.
The new 1% tax on remittances penalizes low-income migrants and limits the free transfer of property, economist Manuel Ramos warned in 'Aristegui en Vivo'.
If the reduction of the tax on remittances from the initial 5% proposed to the resulting 1% for cash transfers or similar physical instruments was the product of a negotiation by the Mexican government, it would be an acceptable demand of the Donald Trump administration not to ruin that triumph.Trump is, before his people, the negotiator who never loses and to know that this was a concession would not be good for his political cause, especially …
Guam seeks clarity on federal remittance tax proposal
By Pacific Island Times News StaffActing Gov. Josh Tenorio sought clarification on whether a proposed federal remittance tax will apply to Guam.Under the proposal advanced in the U.S. Senate, a 1 percent federal tax would be levied on money sent abroad from the United States, with no credit or exemption for U.S. citizens, legal residents, or those living in the territories. The proposed tax, if applied to Guam, would also affect more than 5,000 …
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