Instruction No. 219 on Filling Out Statistical Reporting Form No. 1-PB 'Report on Foreign Economic Operations'

1 «Registered» by the Ministry of Justice of the Republic of Tajikistan No. 873 dated January 10, 2017. «Approved» by the Resolution of the Board of the National Bank of Tajikistan No. 148 dated November 29, 2016. «Registered» by the Ministry of Justice of the Republic of Tajikistan No. 8731 dated January 27, 2020. «Approved» by the Resolution of the Board of the National Bank of Tajikistan No. 168 dated December 25, 2019. INSTRUCTION NO. 219 on Filling Out Statistical Reporting Form No. 1-PB "Report on Foreign Economic Operations" Instruction No. 219 on filling out statistical reporting form No. 1-PB "Report on Foreign Economic Operations" (hereinafter referred to as the Instruction) is developed in accordance with Article 85 of the Law of the Republic of Tajikistan "On the National Bank of Tajikistan" and defines the procedure for submitting data on accounts related to foreign economic activities by balance and payment purpose, for compiling Tajikistan's balance of payments, international investment position, and external debt.

CHAPTER 1. DEFINITIONS AND GENERAL INFORMATION

1. The following terms and definitions are used in this Instruction:

• balance of payments – a statistical report reflecting aggregate economic operations between residents and non-residents over a specific period.
• residents: a) legal entities and organizations, not being legal entities, created in accordance with the legislation of the Republic of Tajikistan, with their location in the Republic of Tajikistan; b) branches and offices of legal entities and organizations, not being legal entities, of foreign states, with their location in the Republic of Tajikistan and conducting business activities in the Republic of Tajikistan; c) diplomatic and other official representations, consular institutions of the Republic of Tajikistan located outside the Republic of Tajikistan; d) physical persons, citizens of the Republic of Tajikistan residing in the Republic of Tajikistan; citizens of the Republic of Tajikistan residing abroad for less than 12 months; citizens of the Republic of Tajikistan working in organizations specified in paragraph c) of this point; e) physical persons, citizens of the Republic of Tajikistan who have gone abroad for study or treatment, regardless of the duration of stay; f) physical persons, citizens of foreign states residing in the Republic of Tajikistan for 12 months or more, except for citizens of foreign g) the Republic of Tajikistan, its administrative-territorial units, participating in relations regulated by the foreign exchange legislation of the Republic of Tajikistan.
• non-residents: a) legal entities and organizations, not being legal entities, created in accordance with the legislation of foreign states, with their location outside the Republic of Tajikistan; b) branches and offices of legal entities and organizations, not being legal entities, of the Republic of Tajikistan, with their location outside the Republic of Tajikistan and conducting business activities outside the Republic of Tajikistan; c) diplomatic and other official representations, consular institutions of foreign states located in the Republic of Tajikistan and outside it; d) physical persons, citizens of foreign states residing outside the Republic of Tajikistan; citizens of foreign states residing in the Republic of Tajikistan for less than 12 months; citizens of foreign states located in the Republic of Tajikistan for study, treatment, and work in diplomatic and consular institutions of foreign states in the Republic of Tajikistan, regardless of the duration of stay; e) physical persons, citizens of the Republic of Tajikistan residing outside the Republic of Tajikistan for 12 months or more, except for citizens of the Republic of Tajikistan located outside the Republic of Tajikistan for study, treatment, and work in diplomatic and consular institutions of the Republic of Tajikistan in foreign states; f) international organizations, their branches and offices; g) foreign states, their administrative-territorial units, participating in relations regulated by the foreign exchange legislation of the Republic of Tajikistan.
• foreign economic operations – payments from non-residents to residents and from residents to non-residents.
• neutral operations – payments that are not foreign economic operations.
• central bank – a financial institution (or group of institutions) that controls key aspects of the financial system. The central bank's activities cover money issuance, management of international reserves and regulation of deposit institutions. The National Bank of Tajikistan is the central bank of the Republic of Tajikistan.
• deposit organizations, except the central bank – banks, Islamic banks, non-bank credit organizations, Islamic non-bank credit organizations, micro-deposit organizations and Islamic micro-deposit organizations operating on the basis of a license from the National Bank of Tajikistan all or individual banking operations provided by law.
• bank – a credit organization whose main goal is to achieve profit, which has an authorized capital established by the National Bank of Tajikistan and the right to perform at least three of the following operations: attracting deposits and savings, granting loans, opening and maintaining bank accounts;
• micro-credit deposit organization – a legal entity created for attracting deposits, savings and providing micro-loans in the manner established by the Tajikistan Law "On Microfinance Organizations";
• credit organizations – legal entities (banks and non-bank credit organizations, including microfinance organizations) operating on the basis of a license from the National Bank of Tajikistan all or individual banking operations provided by law;
• credit financial organizations – credit organizations and Islamic credit organizations operating in accordance with the law on the basis of a license from the National Bank of Tajikistan;
• Islamic credit organizations – legal entities (Islamic banks, Islamic non-bank credit organizations, Islamic microfinance organizations, including the "Islamic banking window") performing all or individual Islamic banking operations provided by law on the basis of a license from the National Bank of Tajikistan;
• Islamic non-bank credit organizations – Islamic credit organizations having the right to perform individual types of Islamic banking operations. The list of Islamic banking operations for Islamic non-bank credit organizations is established by the Tajikistan Law "On Islamic Banking Activity" and the National Bank of Tajikistan;
• Islamic credit – a sum provided to a client by an Islamic credit organization in accordance with the principles of Islamic banking deposition and may or may not have conditions for payment of principal, profit, rent or services;
• Islamic deposit or savings – monetary funds and other valuables of physical and legal persons, deposited in an Islamic credit organization on terms of full return with or without profit to the owner depositor or his representative on demand or at agreed terms in the following forms and in compliance with Islamic financing principles;
• other financial organizations – organizations whose main type of activity is providing financial services, including insurance and pension fund services.
• non-financial organizations – economic entities whose main activity is the production of goods or non-financial services, as well as physical persons as part of households and non-profit organizations serving households.
• government administration sector – a collection of enterprises, organizations and institutions owned by the state and managed by state bodies or persons appointed by them.
• other sectors – include other financial organizations, non-financial enterprises, households and non-profit organizations serving households not accounted for within the above sectors.
• households – a household is defined as a group of physical persons who live together, pool their income and property partially or fully, and jointly consume certain types of goods and services, primarily housing and food.
• physical persons – operations of citizens participating in economic activity, acting as full subjects of this activity.
• direct investments – a category of cross-border investments in which a resident of one country exercises control or has significant influence over the management of an enterprise that is a resident of another country. Direct investment relationships arise when the direct investor directly owns 10 or more percent in the equity capital of the enterprise.
• payments within one bank, branch – payments from non-residents to residents and from residents to non-residents made by a deposit organization, branch without passing through correspondent (sub-correspondent) accounts of the deposit organization, branch.

CHAPTER 2. FORMS AND DEADLINES FOR REPORTING 2. The report on form No. 1-PB "Report on Foreign Economic Operations" (hereinafter referred to as statistical report No. 1-PB) is submitted to the National Bank of Tajikistan (hereinafter NBT) via the "Unified Window" information portal in real-time "on-line", using an electronic digital signature (hereinafter - EDS) applied by the head of the deposit organization or an authorized person monthly, no later than the 10th day after the reporting period. 3. Statistical report No. 1-PB must include calculations for payments initiated by clients, as well as the deposit organization's own operations. Statistical report No. 1-PB must contain information on payments:

• in original currency;
• each payment is listed separately;
• account turnover is reflected separately for each currency;
• payments of the deposit organization, its branch or another structural unit.

4. Statistical report No. 1-PB includes foreign economic payments for operations of deposit organizations, branch (or another structural unit), whose client is a resident. When multiple deposit organizations, branches and other structural units participate in settlements, the code for the foreign economic operation is registered by the deposit organization, branch or another structural unit whose client is a resident. Other participating deposit organizations, branches or other structural units code this payment as neutral.
5. Statistical report No. 1-PB includes information on payments for accounts listed in Appendix No. 6 of this Instruction and made by residents to non-residents. In case of cessation of foreign economic operations, deposit organizations notify NBT in writing.

CHAPTER 3. REPORTING PROCEDURE 6. Statistical report No. 1-PB is formed on the "Unified Window" information portal in real-time "on-line" through sequential entry of reporting data via corresponding interface windows, as well as through the one-time import function for arrays of reporting data. 7. The array of reporting data for statistical report No. 1-PB must be pre-formed in an Excel file format taking into account the requirements of this Instruction. 8. Reporting data provided through the "Unified Window" information portal must be signed by an electronic digital signature (EDS) by the organization head or authorized person. The procedure for applying the electronic digital signature is specified in Appendix No. 6 of this Instruction. 9. The "Unified Window" information portal, in the sub-menu "Help", contains electronic documentation "User Manual" with a detailed description and graphical images of functional sections (interface windows) for statistical report No. 1-PB to work in "on-line" mode. 10. The structure of the Excel file is indicated in statistical report No. 1-PB. The file can be filled by auxiliary software or "manually" by an operator on the reporting side. 11. To import data in Excel format, it is necessary to adhere to the requirements of this Instruction. Correct completion of the report in the specified format will allow providing reporting data to NBT through the "Unified Window" information portal. 12. The "Unified Window" portal provides auxiliary control checks for reporting data during the reporting period. Control check tables for servicing operations allow analyzing the provided information, identifying errors at the time of entering corresponding data. The system checks the linkage of entered data, outputs error information, and provides editing capabilities. Information can be edited an unlimited number of times, but only until the electronic digital signature (EDS) is applied. After applying EDS, editing of reporting data is possible only with the permission of authorized persons of the National Bank of Tajikistan. 13. In case reporting data in statistical report No. 1-PB Excel format is provided via email or, during technical delay, in "off-line" mode, changes to the file structure (changing section/field locations, hiding columns, etc.) are regulated as incorrect provision of reporting data, and the provided report is fixed in NBT as not timely provided. 14. The data provision methodology ensures transparency of input, analysis, editing and export of reporting data with authorized access to the information portal. 15. In case changes are made to definitions and methodology for compiling statistical report No. 1-PB, the reporting executor will be provided with additional information and documentation with explanations.

CHAPTER 4. REPORTING FILLING PROCEDURE 16. Each operation is classified by numbering, correspondent banks, type of operation, partner country (counterparty) of the deposit organization's client, currency of operation, date of operation, client country, account ownership to a specific economic sector. The type of operation, currency name, country name, and economic sector are presented in coded form. When coding information, it is necessary to use the code classifiers specified in Appendices 1, 2, 3 and 4 of this Instruction. All fields are mandatory for completion. 17. Information on statistical report No. 1-PB is provided according to the following structure: № | Code of country of deposit organization | Code of operation | Name of operation | Code of partner country | Name of currency (currency code) | Credit | Debit | Date of operation | Code of client country | Code of sector | Code of region | Code of INN 1 | 2 | 3 | 4 | 5 | 6 | 7-8 | 9 | 10 | 11 | 12 | 13 Field Number | Field Name | Field Content 1 | № - Numbering | The number of the current operation is specified. 2 | Code of country of deposit organization | The code of the country where the correspondent bank is located is specified, using country codes from the country classifier (see Appendix No. 1). For operations in cash currency or non-resident operations in somoni, the code of the Republic of Tajikistan is specified. 3 | Code of operation | The operation code is specified according to the list in Appendix No. 4. Foreign economic operations – codes ….. Neutral operations – code …. 4 | Name of operation | Full information on the purpose of each fund transfer is specified. This column must not repeat the standard balance of payments classification name (Appendix No. 4) but reflect the specific content of the operation, ensuring control over correct coding. Explanations like “export of goods”, “financial services” and “other business services” do not meet reporting completeness requirements. For fund transfers for goods supplied, the specific good must be indicated. 5 | Code of partner country (counterparty) of deposit organization client | The code of the partner/counterparty country is specified, not the correspondent bank's or client's country code, using the country classifier (Appendix No. 1). For cash currency operations, the code of the cash currency's country is specified. If a debt transfer or assignment agreement (or supplementary agreement with a third-country resident as payer/payee) is concluded, the field specifies the code of the non-resident counterparty. When an international organization is a party, code “999” is used. 6 | Name of currency (currency code) | The currency code for the operation is specified, using alphabetic codes from the country and currency classifier (Appendix No. 2). 7-8 | Credit / Debit | Fund movements are reflected in credit and debit rows with two decimal places in original currency. For nostro accounts and cash operations: inflow on credit, outflow on debit. Forostro accounts and somoni accounts of non-resident clients: vice versa (outflow on credit, inflow on debit). 9 | Date of operation | The accounting reflection date is specified. For non-cash payments, it is the crediting/debiting day. For intra-organization/branch settlements, it is the fund inflow/outflow day to/from the resident's account. For cash payments, it is the accounting reflection day. For letters of credit and factoring, it is the bank/branch account crediting/debiting day. For intra-organization L/C and factoring, it is the resident account crediting/debiting day; for cash, it is the accounting reflection day. 10 | Code of client country | The code of the resident country for the deposit organization's client is specified, using the country classifier (Appendix No. 1). 11 | Code of sector | The code of the economic sector to which the bank's client belongs is specified, using sector codes from Appendix No. 3. 12 | Code of region | The code of the deposit organization's or branch's location is specified, using codes from Appendix No. 5. 13 | Code of INN | The client's tax identification number code is specified, assigned by the Tax Committee under the Government of Tajikistan. 18. Information per account in statistical report No. 1-PB reflects fund movements during the reporting period. 19. Correspondent account movements are reflected as follows: nostro accounts - credit for inflow, debit for outflow;ostro accounts - vice versa (credit for outflow, debit for inflow). Balance at start and end of period: nostro on credit,ostro on debit. 20. Report for correspondent accounts with cash currency follows the same form as non-cash settlements. Field 2 records: “Code of Republic of Tajikistan”. Field 5 specifies the cash currency's country code. Credit reflects cash inflow, debit reflects cash outflow. Balance at start and end is on credit. 21. Report for non-resident operations in Tajikistan includes fund movements between deposit organizations or within one organization. Operations are reflected like correspondent accounts per classification. Field 10 specifies the client's (non-resident) country code. Field 11 specifies the counterparty sector. Credit reflects outflow from non-residents, debit reflects inflow to non-residents. Balance at start and end is on debit. For foreign economic operations related to financial assets/liabilities (codes 0601–0901 per Appendix No. 4) and income payments (codes 030201–030202), the Operation Code field is filled based on the original contract terms. 22. Operations involving fund transfers in foreign currency between non-resident deposit organizations, or between resident deposit organizations with changed asset structure in foreign currency of residents, are considered neutral balance of payments operations and must be entered with codes for neutral operations. The following are reflected as neutral: a) conversion of one non-cash foreign currency to another; b) transfer of currency from non-cash to cash form (cash withdrawal); c) transfer of currency from cash [to non-cash form].