US introduces a 1 percent tax on money transfers abroad
Washington, Jan. 2 (Hibya) – Under a bill titled “One Big Beautiful Bill” proposed by United States (US) President Donald Trump, a regulation imposing a 1 percent tax on money transfers to Mexico and other countries has come into force.
According to CCTV, the regulation under US President Donald Trump’s “One Big Beautiful Bill,” which imposes a 1 percent tax on money transfers to Mexico and other countries, entered into force as of January 1.
This new policy means that international money transfers made via cash, remittances, postal money orders, and bank checks will be subject to a 1 percent tax. However, transfers carried out using a bank account in the United States or bank or credit cards issued in the US will be exempt from this tax.
British News Agency
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