US plans remittance taxation

[Lorry]

https://www.nytimes.com/2025/06/03/world/africa/trump-bill-remittance-tax-africa.html

 

Seems to be the reverse of the Thai remittance taxation. 

Yankees, of course,  may have to be taxed twice: once when the money leaves the US, a second time when the money enters Thailand. 

 

Never underestimate the creativity of tax authorities!

[Everyman]

That sucks but it clearly only affects money sent by non-U.S. citizens. Still I had to find a different article to read that, since the NY Times article kept blathering on about Africa instead of the details of the bill. 

 

So for US citizens sending money to Thailand it will mostly be a matter of proving US citizenship. 

 

Still, better the bill not pass at all. 

[JohnnyBD]

9 hours ago, Lorry said:

https://www.nytimes.com/2025/06/03/world/africa/trump-bill-remittance-tax-africa.html

 

Seems to be the reverse of the Thai remittance taxation. 

Yankees, of course,  may have to be taxed twice: once when the money leaves the US, a second time when the money enters Thailand. 

 

Never underestimate the creativity of tax authorities!

The tax proposal in the article you refer to only affects non-US citizens who transfer money out of the US, and it's just a proposal right now.

 

Also, some US citizens (like me) are not required to pay taxes on monies remitted to Thailand due to their (my) income being tax-exempt.

[Thailand J]

Think of Non-US citizens with US investments such as Schwab accounts.

[InlandSea]

Are there any governments making things better these days?

 

[Etaoin Shrdlu]

On 6/5/2025 at 11:50 AM, Thailand J said:

Think of Non-US citizens with US investments such as Schwab accounts.

 

Some of the articles I've read have stated that the present proposal would tax remittances of non-US citizens residing in the US who remit funds abroad. If this is accurate, then presumably a non-resident alien with an account at Schwab registered to a foreign address would not be impacted. But it is difficult to say at this time.

 

 

[gargamon]

Of course Trump would do this. If we can't steal your money with tariffs when you spend it in the US, we will screw you another way and steal your money when you send it out of the country.