Regulatory Alerts2018-11-13
Added · Updated
Regulations Governing the Declaration of Foreign Exchange Receipts and Disbursements or Transactions
The regulations require persons in the Republic of China with foreign exchange valued at New Taiwan Dollars 500,000 or more to declare receipts, disbursements, or transactions through banking enterprises. Declarants must submit a Declaration Statement of Foreign Exchange Receipts and Disbursements or Transactions, with specific documentation or Central Bank approval required for remittances exceeding USD 1 million for companies or USD 500,000 for individuals. The rules also establish annual aggregate settlement limits of USD 50 million for companies and firms, and USD 5 million for associations and individuals, while mandating that banking enterprises retain declaration records for at least five years.
More like this from CBC
We email you every new CBC publication the day it's published.