Spanish
Mexico City, June 30 (EFE).- The president of Mexico, Claudia Sheinbaum, considered this Monday as a "very important" achievement that the United States Senate reduced to 1% the proposed tax on remittances, after initially proposing 3.5%, a tax that would apply to cash transfers, postal orders, cashier's checks or other similar instruments.
"In the case of remittances, there are, I would say, very important achievements and that achievement is of our countrymen and women, mainly due to the sending of letters to their senators, especially those who have dual nationality," the president pointed out during her morning press conference.
Sheinbaum recalled that in the drafting of the proposal, the tax on remittances proposed by the U.S. president, Donald Trump, went from 3.5% to 1%, and that this tax will be for remittances sent in cash.
"All electronic transfers have a 0% tax and more than 90% are sent via electronic transfers," the president pointed out.
Likewise, Sheinbaum stated that next Friday, her government will announce a special program through the Financiera para el Bienestar (Finabien) card to reimburse nationals that possible 1% tax that these transfers would have.
"It's not approved yet, but (what's missing) is already the wording being sent for approval," the president said about the legislative course of the proposal.
Mexico received a record of almost 65 billion dollars in remittances in 2024, representing almost 4% of Mexico's economy, the second-largest recipient of these currencies in the world, second only to India.
The proposal of a 3.5% tax on remittances sent by migrants to their families has been criticized by the Mexican Government for considering it a violation of the 1994 bilateral treaty against double taxation.
