[theold]

Tucked deep in Donald Trump's sprawling "One, Big, Beautiful Bill Act" is a clause that could quietly take billions from money sent abroad.

It proposes a 3.5% tax on remittances sent abroad by foreign workers, including green card holders and temporary visa workers such as those on H-1B visas. For India - the world's top remittance recipient - the implications are serious, say experts. Other major recipients include Mexico, China, the Philippines, France, Pakistan and Bangladesh.

https://www.bbc.com/news/articles/cvg98erzl8eo

[Blin]

Tucked deep in Donald Trump's sprawling "One, Big, Beautiful Bill Act" is a clause that could quietly take billions from money sent abroad.

It proposes a 3.5% tax on remittances sent abroad by foreign workers, including green card holders and temporary visa workers such as those on H-1B visas. For India - the world's top remittance recipient - the implications are serious, say experts. Other major recipients include Mexico, China, the Philippines, France, Pakistan and Bangladesh.

https://www.bbc.com/news/articles/cvg98erzl8eo

3.5% of $20b =$700m

[Ola]

AI says 5.2 Million Indians on green cards . . . plus Indian Americans . . .

Capital outflow that needs to be curbed

[Niubee]

SG should have too

[Clyde]

SG should have too

Singapore reverse. My friend's brother send money to his children and family living in the US.

[theold]

The US will allow the transfer of rojak money as long as you pay tax.

[theold]

This will affect those REIT companies with investments in the US.

Those manufacturing companies are told to build their plants in the US. Now, when they take the money out, they have to pay tax.