BUSINESS STANDARD 

SUMMARY

A proposed law in the United States is causing unease among Indian residents and non-resident Indians (NRIs) living in America, as it could make sending money back home more expensive. The draft legislation, informally titled “The One Big Beautiful Bill”, proposes a 5% tax on all international money transfers made by non-US citizens.

If the Bill is passed, the tax would apply to individuals on non-immigrant visas such as H-1B and F-1, green card holders, and undocumented immigrants. Transfers made through platforms like Western Union, PayPal, or regular banks would be taxed at the point of transfer.

The proposal has not yet passed Congress, but if approved, it could take effect as early as July 2025.

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