News
December 29 2025
Trump’s ‘Big Beautiful’ remittance tax takes hold this week
5
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United States President Donald Trump
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Dr Karren Dunkley
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Fayval Williams, minister of finance and the public service.
Effective January 1, Jamaicans in the United States (US) sending money to relatives in their homeland will have to pay a one per cent excise tax on those remittances. The one per cent tax is set out in the ‘Big Beautiful Bill’ passed by the US Congress and signed into law by President Donald Trump last July. The new tax will be imposed on remittances sent as cash, money orders, cashier’s cheques and similar instruments. Funds sent by debit/credit cards or bank wire transfer will not attract the new tax.
