Post #277 by mungofitch on the US Policy board

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in another group I am in, there is apparently also a provision to tax dollars leaving the country at 3-5%... it may only be remittances, but american citizens abroad do not appear to be excluded...anyone else got a view on this ?

I'm not about to read the bill any more than I have, I have a weak digestive system, but some secondary sources say that is specifically exempts US citizens initiating transfers.
Apparently at 3.5% on any transfer of funds abroad (not tax related), no exemption for small amounts. To be collected by the remittance service provider.

https://www.pymnts.com/news/cross-border-commerce/...

Jim

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