US to impose new tax on overseas remittances

Updated 2025.12.31 05:14 GMT+8

Poppie Mphuthing

A new tax is set to go into effect in the U.S. on January 1, targeting cash flows to overseas recipients.

Part of U.S. President Donald Trump’s so-called Big Beautiful Bill, some remittances will now be subject to a one percent levy.

Poppie Mphuthing reports.