{"id":237065,"date":"2025-05-15T09:18:42","date_gmt":"2025-05-15T13:18:42","guid":{"rendered":"https:\/\/antiguanewsroom.com\/?p=237065"},"modified":"2025-05-15T09:44:59","modified_gmt":"2025-05-15T13:44:59","slug":"us-to-levy-5-tax-on-immigrant-remittances-what-does-it-mean-for-nris","status":"publish","type":"post","link":"https:\/\/antiguanewsroom.com\/us-to-levy-5-tax-on-immigrant-remittances-what-does-it-mean-for-nris\/","title":{"rendered":"US to levy 5% tax on immigrant remittances"},"content":{"rendered":"<div id=\"antig-3885798373\" class=\"antig-ecab antig-entity-placement\"><a href=\"https:\/\/discoverflow.co\/web\/antigua\" aria-label=\"ANU CVP Digital Broadband 1200x400_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1201w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:342\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1201\" height=\"401\"   \/><\/a><\/div><div id=\"antig-4099952702\" class=\"antig-before-content antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/medicalbenefitsscheme\" aria-label=\"PHOTO-2026-04-07-10-45-56\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1200\/h:400\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/PHOTO-2026-04-07-10-45-56.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1200\/h:400\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/PHOTO-2026-04-07-10-45-56.jpg 1200w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/PHOTO-2026-04-07-10-45-56.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:341\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/PHOTO-2026-04-07-10-45-56.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/PHOTO-2026-04-07-10-45-56.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1200\" height=\"400\"   \/><\/a><\/div>\n<p><a href=\"https:\/\/whatsapp.com\/channel\/0029VaFMdgE6mYPT8QGXjA0A\"><strong><em>CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP<\/em><\/strong><\/a><\/p><div id=\"antig-689759655\" class=\"antig-content_5 antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/ablpag\" aria-label=\"Full-ABLP-Team-Digital-Billboard-1920x1080px\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1920\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg 1920w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:169\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:576\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:432\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg 768w, https:\/\/mlavawteztbj.i.optimole.com\/w:1536\/h:864\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2023\/01\/Full-ABLP-Team-Digital-Billboard-1920x1080px.jpg 1536w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1920\" height=\"1080\"   \/><\/a><\/div>\n\n\n\n<p> <strong>Source: financial express-<\/strong> For NRIs, this tax could have profound financial implications. Currently, India is the world\u2019s top recipient of remittances, with around $83 billion sent annually from abroad, much of it from the United States.<\/p>\n\n\n\n<p>A new tax proposal by\u00a0<a href=\"https:\/\/www.financialexpress.com\/world-news\/gop-tax-bill-no-tax-on-tips-and-overtime-bigger-bills-for-ivy-league-and-remittances-key-highlights\/3842489\/\">House of Republicans<\/a>\u00a0could significantly impact Non-Resident Indians (NRIs) living in the United States.<\/p><div id=\"antig-1206332681\" class=\"antig-content_4 antig-entity-placement\"><a href=\"https:\/\/discoverflow.co\/web\/antigua\" aria-label=\"ANU CVP Digital Broadband 1200x400_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1201w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:342\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1201\" height=\"401\"   \/><\/a><\/div><div id=\"antig-1401265088\" class=\"antig-content_12 antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/ablpag\" aria-label=\"16cceddb-da5a-439f-8675-6fcc68a7421e\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1600\/h:800\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/16cceddb-da5a-439f-8675-6fcc68a7421e.jpeg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1600\/h:800\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/16cceddb-da5a-439f-8675-6fcc68a7421e.jpeg 1600w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:150\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/16cceddb-da5a-439f-8675-6fcc68a7421e.jpeg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:512\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/16cceddb-da5a-439f-8675-6fcc68a7421e.jpeg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:384\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/16cceddb-da5a-439f-8675-6fcc68a7421e.jpeg 768w, https:\/\/mlavawteztbj.i.optimole.com\/w:1536\/h:768\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/04\/16cceddb-da5a-439f-8675-6fcc68a7421e.jpeg 1536w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1600\" height=\"800\"   \/><\/a><\/div>\n\n\n\n<p> The bill, introduced on May 12, 2025, includes a controversial provision imposing a 5% tax on international money transfers made by non-citizens. <\/p><div id=\"antig-2218508697\" class=\"antig-content antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/ReggaeInTheParkAntigua\" aria-label=\"lucanio\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:864\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2020\/12\/lucanio.jpeg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:864\/h:1080\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2020\/12\/lucanio.jpeg 1080w, https:\/\/mlavawteztbj.i.optimole.com\/w:240\/h:300\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2020\/12\/lucanio.jpeg 240w, https:\/\/mlavawteztbj.i.optimole.com\/w:819\/h:1024\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2020\/12\/lucanio.jpeg 819w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:960\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2020\/12\/lucanio.jpeg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1080\" height=\"1350\"   \/><\/a><\/div>\n\n\n\n<p>This development depicts a significant shift in U.S. tax policy, especially for foreign workers who regularly send money to their families abroad.<\/p>\n\n\n\n<p>The broader bill aims to make the 2017 Tax Cuts and Jobs Act permanent while increasing the standard deduction and extending the child tax credit to $2,500 through 2028.\u00a0<\/p><div id=\"antig-370517453\" class=\"antig-content_2 antig-entity-placement\"><a href=\"https:\/\/www.courts.com\/antigua\/\" aria-label=\"500X500 (1)\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:500\/h:500\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/03\/500X500-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:500\/h:500\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/03\/500X500-1.jpg 500w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:300\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/03\/500X500-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:150\/h:150\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2026\/03\/500X500-1.jpg 150w\" sizes=\"(max-width: 500px) 100vw, 500px\" width=\"500\" height=\"500\"   \/><\/a><\/div>\n\n\n\n<p><a href=\"https:\/\/www.financialexpress.com\/world-news\/congress-slams-donald-trump-for-comparing-modi-with-shehbaz-questions-pmo-silence\/3843790\/\">US President Donald Trump<\/a>, currently serving his second term, has publicly endorsed the legislation, calling it \u201cGREAT\u201d and urging Republicans to ensure its passage.<\/p>\n\n\n\n<p> The 5%\u00a0<a href=\"https:\/\/www.financialexpress.com\/budget\/fm-proposes-increase-in-threshold-limit-to-collect-tax-at-source-on-remittances-tcs-on-foreign-education-loans-removed-3734046\/\">remittance tax\u00a0<\/a>is intended to help fund extended tax breaks and support border security initiatives, potentially raising billions for the U.S. Treasury. <\/p><div id=\"antig-1067849916\" class=\"antig-content_3 antig-entity-placement\"><a href=\"https:\/\/www.antiguabarbudaculinarymonth.com\/\" aria-label=\"CM key_WEB 1300x300_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1301\/h:301\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/04\/CM-key_WEB-1300x300_1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1301\/h:301\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/04\/CM-key_WEB-1300x300_1.jpg 1301w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:69\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/04\/CM-key_WEB-1300x300_1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:237\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/04\/CM-key_WEB-1300x300_1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:178\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2021\/04\/CM-key_WEB-1300x300_1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1301\" height=\"301\"   \/><\/a><\/div>\n\n\n\n<p>However, it does so at the direct expense of hardworking immigrants.<\/p><div id=\"antig-3094154539\" class=\"antig-content_6 antig-entity-placement\"><a href=\"https:\/\/discoverflow.co\/web\/antigua\" aria-label=\"ANU CVP Digital Broadband 1200x400_1\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1201\/h:401\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1201w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:100\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:1024\/h:342\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 1024w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:256\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2025\/11\/ANU-CVP-Digital-Broadband-1200x400_1-1.jpg 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1201\" height=\"401\"   \/><\/a><\/div>\n\n\n\n<p>For NRIs, this tax could have profound financial implications. <\/p>\n\n\n\n<p>Currently, India is the world\u2019s top recipient of remittances, with around $83 billion sent annually from abroad, much of it from the United States. <\/p>\n\n\n\n<p>The new provision would mean that for every \u20b91 lakh (in dollar terms) sent home, \u20b95,000 (in dollar terms) would go to the IRS before reaching the intended recipients. <\/p>\n\n\n\n<p>This change affects everyday family support, property purchases, educational expenses, and more. <\/p>\n\n\n\n<p>Until now, remittances were not subject to U.S. taxation, making this a stark policy reversal.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-how-will-the-bill-impact-the-nris\">How will the bill impact the NRIs?<\/h2>\n\n\n\n<p>The legislative timeline is swift. The House aims to pass the bill by Memorial Day, May 26, 2025, after which it would head to the Senate. Lawmakers hope to have it signed into law by July 4th.<\/p>\n\n\n\n<p> If approved, the tax would be implemented rapidly, with financial institutions and money transfer services tasked with collecting the 5% levy at the point of transaction, regardless of the amount or purpose of the transfer.<\/p>\n\n\n\n<p>This could substantially disrupt existing financial strategies for NRIs. Whether you\u2019re supporting aging parents, funding a sibling\u2019s education, or investing in real estate back home, you\u2019ll now face a reduced value on every dollar you send. <\/p>\n\n\n\n<p>The tax applies across all legitimate channels, including traditional banks and NRE\/NRO accounts, leaving few options for avoidance without breaching compliance.<\/p>\n\n\n\n<p>Given the urgency, NRIs are advised to take swift action. Large or planned remittances should ideally be made before July to avoid the new tax. <\/p>\n\n\n\n<p>Reconsidering your remittance habits might also help mitigate the impact.<\/p>\n\n\n\n<p> For instance, fewer and larger transfers might reduce the cumulative cost, though care must be taken to comply with U.S. reporting requirements for international transactions over $10,000, which will continue under FBAR and FATCA regulations.<\/p>\n\n\n\n<p>In the long run, if the bill passes, NRIs will need to reassess their financial and tax planning.<\/p>\n\n\n\n<p> Budgeting for the additional cost, reviewing investment strategies, and exploring alternative ways to support families will become necessary. <\/p>\n\n\n\n<p>Proper documentation of transfers will become even more important\u2014not just for tax filings, but also for future legal and financial clarity. <\/p>\n\n\n\n<p>The proposed 5% remittance tax represents a significant change for NRIs in the U.S. Meanwhile, the bill is yet to become a law in the US.<\/p>\n\n\n\n<p><a href=\"https:\/\/whatsapp.com\/channel\/0029VaFMdgE6mYPT8QGXjA0A\"><strong><em>CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP<\/em><\/strong><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/whatsapp.com\/channel\/0029VaFMdgE6mYPT8QGXjA0A\"><strong><em>CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP<\/em><\/strong><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/whatsapp.com\/channel\/0029VaFMdgE6mYPT8QGXjA0A\"><strong><em>CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP<\/em><\/strong><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/whatsapp.com\/channel\/0029VaFMdgE6mYPT8QGXjA0A\"><strong><em>CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP<\/em><\/strong><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/whatsapp.com\/channel\/0029VaFMdgE6mYPT8QGXjA0A\"><strong><em>CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP<\/em><\/strong><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/whatsapp.com\/channel\/0029VaFMdgE6mYPT8QGXjA0A\"><strong><em>CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP<\/em><\/strong><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/whatsapp.com\/channel\/0029VaFMdgE6mYPT8QGXjA0A\"><strong><em>CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP<\/em><\/strong><\/a><\/p>\n\n\n\n<p><a href=\"https:\/\/whatsapp.com\/channel\/0029VaFMdgE6mYPT8QGXjA0A\"><strong><em>CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP<\/em><\/strong><\/a><\/p>\n<div id=\"antig-3428166260\" class=\"antig-in-comments_2 antig-entity-placement\"><a href=\"https:\/\/www.facebook.com\/@hadeedmotorsltd\" aria-label=\"Hadeed_WEB_Banner_MG-2\"><img src=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1000\/h:250\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png\" alt=\"\"  srcset=\"https:\/\/mlavawteztbj.i.optimole.com\/w:1000\/h:250\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png 1000w, https:\/\/mlavawteztbj.i.optimole.com\/w:300\/h:75\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png 300w, https:\/\/mlavawteztbj.i.optimole.com\/w:768\/h:192\/q:mauto\/f:best\/https:\/\/antiguanewsroom.com\/wp-content\/uploads\/2024\/12\/Hadeed_WEB_Banner_MG-2.png 768w\" sizes=\"(max-width: 696px) 100vw, 696px\" width=\"1000\" height=\"250\"   \/><\/a><\/div>","protected":false},"excerpt":{"rendered":"<p>CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP Source: financial express- For NRIs, this tax could have profound financial implications. Currently, India is the world\u2019s top recipient of remittances, with around $83 billion sent annually from abroad, much of it from the United States. A new tax proposal by\u00a0House of Republicans\u00a0could significantly impact Non-Resident Indians [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":237066,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-237065","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.1 (Yoast SEO v24.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>US to levy 5% tax on immigrant remittances - Antigua News Room<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/antiguanewsroom.com\/us-to-levy-5-tax-on-immigrant-remittances-what-does-it-mean-for-nris\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US to levy 5% tax on immigrant remittances\" \/>\n<meta property=\"og:description\" content=\"CLICK HERE TO JOIN OUR WHAT\u2019S APP GROUP Source: financial express- For NRIs, this tax could have profound financial implications. Currently, India is the world\u2019s top recipient of remittances, with around $83 billion sent annually from abroad, much of it from the United States. 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