U.S.slices planned remittance tax to 3.5% from 5%

 The United States has announced a reduction in the planned remittance tax, lowering it from 5% to 3.5%. This move is expected to ease the financial burden on individuals sending money abroad, particularly benefiting migrant workers and foreign residents who regularly remit funds to their home countries. 

The decision reflects the U.S. government's effort to support international families and promote smoother cross-border financial flows. It may also help maintain strong economic ties with countries that rely significantly on remittance inflows.

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