Regulatory Alerts2003-04-30
Added · Updated
Regulations Governing the Declaration of Foreign Exchange Receipts and Disbursements or Transactions
The Central Bank of the Republic of China (Taiwan) requires persons in its territory holding or needing foreign exchange valued at New Taiwan dollars 500,000 or more to declare receipts, disbursements, or transactions. Declarations must be submitted to the Bank through authorized banking enterprises, with specific thresholds determining whether prior confirmation or approval is needed for settlements. Electronic declarations are permitted for eligible companies, firms, associations, and individuals over 20, while non-residents must generally declare in person or via authorized agents. False or untruthful declarations are subject to penalties under the Foreign Exchange Control Act.
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