The U.S. plans to impose a 5% tax on international remittances for non-U.S. citizens.

Golden Finance reports that recently, House Republicans in the United States have incorporated a proposal to impose a 5% consumption tax on international remittances into the overall bill referred to by Trump as the “Beautiful Big Bill”. If passed, this proposal is expected to affect more than 40 million people in the United States, including green card holders and non-immigrant visa holders, such as those holding F-1, H-1B, H-2A, and H-2B visas. This regulation will not apply to U.S. citizens. This clause stipulates a 5% consumption tax on remittances, and it specifies that the tax will be paid by the remitter. The clause states that this tax applies to any international remittance, unless the remitter is a “verified U.S. remitter.” Individuals holding a valid temporary residency permit, including those with a green card, will fall within the scope of taxation.