GK Financial Services Bracing for Proposed US Remittance Tax

One of the country’s leading remittance agencies is bracing for the potential impact of a proposed tax on remittances from the United States.

US Republicans have proposed a five percent tax on remittances as part of a tax bill to advance President Donald Trump’s legislative agenda.

GraceKennedy Financial Services Limited says it’s working with its international partners to assess how the measure could affect green card holders as well as persons with non-immigrant visas.

The Group CEO of GraceKennedy is Frank James.

James says there are already digital solutions that GraceKennedy has in place to assist with ameliorating the worst impact of a remittance tax.

Frank James, Group CEO of Grace Kennedy, speaking with Nationwide News.