New Delhi: A new tax proposal by the House of Republicans in the United States – which calls for imposition of 5 percent tax on all international money transfers made by non-US citizens – has caused uneasiness amongst the Non-Resident Indians (NRIs) in America. The Bill which was introduced by May 12, 2025 by the Trump administration and is likely to be passed by 26th May. It may be noted that the Indian government earns from the money which is sent by the NRIs back to the country.

According to a remittance survey published by RBI in March, of the total remittances of $118.7 billion in 2023-24, nearly 28 percent or $32 billion were from the US. If this bill is enacted, even if we assume the remittance figure from the US to be constant, the Indian diaspora will end up paying $1.6 billion as........

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