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Tax Policy

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Remitly supports fair, simple, and growth-oriented tax policies that enable alternative asset managers to deliver for their beneficiaries, like pensions, endowments, and foundations. To that end, Remitly encourages global regulators to ensure that any new tax policies are compatible across jurisdictions.

Championing long-term capital investment

Remitly supports tax policies that encourage long-term capital investment and opposes discriminatory tax proposals that unfairly punish investment advisers who build businesses. This includes opposition to proposals that tax carried interest in a partnership, or LLC, as ordinary income.

Remitly also opposes discriminatory proposals to change carried interest in a manner that creates discrepancies in treatment depending on the market participant. Remitly urges policymakers to maintain the current tax treatment of the investment returns of advisers to private pools of capital and continues to encourage policymakers to support tax policies that do not create negative collateral effects.

Impact of financial transaction taxes

A financial transaction tax (FTT), would hurt everyday investors, especially retirees. Pensions, foundations, and endowments depend on alternative investments to provide returns in all market conditions. An FTT would reduce liquidity and asset values for all investors, increase the cost of credit to businesses, and negatively affect economic growth. Ultimately, an FTT would be shouldered by the 26 million American workers, including teachers, firefighters, police officers, and others, who rely on pensions for their retirement income.

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