US EditionUS Tax on Remittances Could Reduce Household Spending by 25%, Says ANPEC
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7 Articles
Tax collection in the United States for the 1% tax on remittances sent from the United States to Mexico will be limited, Coface’s credit insurer estimated. “Given the broad spectrum of exemption and the various forms of circumvention, the possible increase in tax collection seems limited,” the paper warned Dominique Fruchter, an economist at Coface, based in Paris. Last June, the United States Joint Tax Committee estimated public revenue to be $…
US tax on remittances could reduce household spending by 25%, says ANPEC
New legislation introducing a 1% tax on cash remittances sent from the United States to Mexico could result in a 25% decrease in Mexico’s household spending, the president of the National Alliance of Small Business Owners (ANPEC), Cuauhtémoc Rivera, said on Monday. Approximately 11.3% of Mexican households receive remittances from the U.S., most of which go towards consumer spending, Rivera said in an interview with the newspaper El Economista.…
Link Latino NC developed an automatic calculator for you to enter the amount of money you need to send and find out the amount of tax to pay. The New Income Tax on Remittances: calculates how much you will have to pay to send money to your country was first posted on July 9, 2025 at 11:18 am.©2024 "Link Latino NC". Use of this feed is for personal non-commercial use only. If you are not reading this article in your feed reader, then the site is …
The U.S. Senate approved a 1% tax on remittances sent by migrants to their countries of origin. This measure has set off alarms in several Latin American countries, including Ecuador, where these resources represent an important sost n econ mico for thousands of families.
Photo: Special Imagine this: your aunt lives in Los Angeles, wants to help you from there and instead of sending you money, she sends you a stove, a living room or clothes directly to your house in Mexico. She doesn't go to the bank, she doesn't use exchange houses and she doesn't pay any taxes for sending cash remittances. Magic? No. It's called: remittances in kind, and Coppel (along with Elektra) found a way to make it work. What are the "rem…
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