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How could Trump's tax and spending bill impact funds transferred to India?
US President Donald Trump's tax and spending bill has a provision that could change global remittance flows, according to NDTV. The bill proposes 3.5% tax on all outbound remittance transfers, targeting funds transferred from US to recipients abroad by foreign workers. The proposed new tax could drain billions from the pool of funds that support millions of households in India.
tap for more at NDTV / today
The tax was originally pitched at 5%
The rate was later revised under pressure
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