|
[Law Basis]
[Print]
|
1. Banking enterprises shall assist customers to make truthful declarations
pursuant to the Regulations Governing the Declaration of Foreign Exchange
Receipts and Disbursements or Transactions (hereinafter referred to as “the
Regulations for Declaration”) when customers settle foreign exchange against
the New Taiwan dollar.
|
|
2. Banking enterprises that handle the declaration of foreign exchange settlement
against the New Taiwan dollar in accordance with Subparagraph 3, Paragraph 1,
Article 4 of the Regulations for Declaration shall enquire online and count the
amount in the declarant’s aggregate settlement amount of the current year, and shall
notice that:
(1) Banking enterprises shall prevent the declarant from using a third party name to make
the declaration.
(2) Banking enterprises are not required to enquire online about the declarant’s
aggregate settlement amount of the current year for declarations of foreign exchange
settlement by non-residents.
(3) For the declaration of an inward remittance which has originally been remitted out of
the R.O.C. and counted toward the aggregate settlement amount of the current year as
provided in Subparagraph 3, Paragraph 1, Article 4 of the Regulations for Declaration
(hereinafter referred to as “Annual aggregate Settlement Amount”), the declarant is
entitled to settle the inward remittance. Banking enterprises are not required to
enquire online or count the amount of settlement in the declarant’s aggregate
settlement amount of the current year. In addition, the banking enterprise shall
write down the amount and the date of foreign exchange sale of inward remittances on
the declarant's original Foreign Exchange Sale Memo, affix the signature/seal, and
retain a photocopy for future reference.
(4) The enquired record of the settlement amount shall be printed out on the banking
enterprise's receipt slip of the Declaration Statement of Foreign Exchange Receipts
and Disbursements or Transactions (hereinafter referred to as “Declaration
Statement”) to facilitate on-site examination by the Central Bank of the Republic of
China (Taiwan) (hereinafter referred to as “the Bank”) and other financial auditing
authorities.
|
|
3.Banking enterprises that engage in foreign exchange settlements against the New
Taiwan dollar in accordance with Subparagraph 4, Paragraph 1, Article 4, of the
Regulations for Declaration shall be aware that the settlement amount for a
single transaction is limited to a maximum of United States dollars 100,000.
Such banking enterprises shall strive to prevent declarants from breaking up
large settlements into smaller ones to avoid the provision of Article 6 of the
Regulations for Declaration which requires that large foreign exchange settlement
amounts may only be completed after obtaining the Bank's approval. Banking
enterprises that engage in foreign exchange settlements against the New Taiwan
dollar in accordance with Paragraph 3, Article 5 of the Regulations for
Declaration shall be aware that the cumulative settlement amount shall not exceed
the limit approved by the competent authorities.
When processing remittance for international humanitarian assistance made by a
domestic public-service charity, a banking enterprise should count the remittance
amount toward the charity’s annual aggregate settlement amount. However, if the
international humanitarian assistance plan used by such charity has been approved
by the competent authority, and the settlement amount is in compliance with the
amount approved by the competent authority, the settlement handled by the banking
enterprise after affirming that the documentation is consistent shall be excluded
from the charity's annual aggregate settlement amount.
|
|
4. For staffs of diplomatic missions in the Republic of China and their family members
holding an Identification Card issued by the Ministry of Foreign Affirs, and persons
bearing ROC passports issued by the Ministry of Foreign Affairs but not having a
Citizen’s ID Card, the amount of foreign exchange settlement against New Taiwan
dollars shall be the same as that for non-residents.
There is no restriction on the amount of foreign exchange settlement against New
Taiwan dollars, regardless the nature of the settlement, for diplomatic missions in
the ROC.
The annual aggregate settlement amount for medical clinics, accounting firms or law
firms that have not carried out business registration shall be the same as that for
associatis.
Foreign companies not recognized by the R.O.C. government, their representative
offices established in Taiwan and following approved by the competent authorities may
only sell foreign exchange from inward remittance to pay the expenses of offices which
do not generate any business income in Taiwan.
|
|
5. Banking enterprises processing the settlements of remittances made by a listed company
on behalf of his foreign employees (excluding Mainland China employees) for inward
remittance of purchasing the said company’s shares or for outward remittance of
selling shares or distributed cash dividends, if the settlement amount per
transaction made by each foreign employee not exceeding US$100,000, may process the
settlements after verifying the declaration statement and the detailed list of
settlements filed by the listed company (the contents thereof shall include name of
the employee, his nationality, identification card number, numbers of shares
acquired (sold), amount of cash dividends and the settlement amount). However,
if a single settlement made by a foreign employee exceeds US$100,000, the listed
company shall apply for the approval of the Bank’s Department of Foreign Exchange
(hereinafter referred to as the “Department”) through a banking enterprise before
the banking enterprise may process the settlement.
Banking enterprises processing the settlements of remittances made by a Taiwan branch
(or subsidiary) of a foreign company on behalf of domestic employees for outward
remittance of purchasing the said foreign parent company’s shares or for inward
remittance of selling shares or distributed cash dividends received from the foreign
parent company, if each settlement amount made by the domestic employee is less than
NT$500,000 or the equivalent thereof, banking enterprises may process the settlements
after verifying the declaration statement and the detailed list of settlements filed
by the Taiwan branch (or subsidiary) of the foreign company (contents thereof shall
include the name, identification card number and settlement amount of each employee).
Such domestic employee not need to fill out a Declaration Statement, and the
above-mentioned settlement amount would not be counted in the aggregated settlement
amount of the current year of the employee. However, if a single settlement amount
made by the domestic employee exceeds NT$500,000 or the equivalent thereof, the Taiwan
branch (or subsidiary) shall annotate the date of birth of the employee in the
detailed list of settlements filed with the banking enterprise and this amount shall
be counted in the aggregate settlement amount of the current year of the said
employee.
|
|
6. When engaging in a single foreign exchange transaction against the New Taiwan dollar for an
amount less than NT$500,000 or the equivalent thereof, the customer is not required to
complete a Declaration Statement and the settlement amount will not be counted toward the
accumulated settlement amount of the current year. Banking enterprises shall, however, be
aware of and strive to prevent customers from breaking up a large settlement into smaller
ones to evade the required declaration and enquiries about the accumulated settlement amount
of the current year.
|
|
7. When processing a declaration of remittance settlement relating to loans borrowed by a firm
from its subsidiary in a third area or Mainland China and subsequent repayments of principal
and interest paid by the firm for investment in a third area or Mainland China that has been
approved by (or reported to) the Investment Commission of the Ministry of Economic Affairs (
hereinafter referred to as the “Investment Commission”), banking enterprises shall,
depending upon the circumstances, take note of the following situations:
(1) For the settlements of funds borrowed from a third area or Mainland China and remitted into
Taiwan: Banking enterprises shall verify the letter from the Investment Commission
approving the firm to invest in a third area or Mainland China, documents evidencing the
loan from its subsidiary and the accuracy of the "Declaration Statement for Loans Received
by Taiwan Firms from Third Area Subsidiaries" or the "Declaration Statement for Loans
Received by Taiwan Firms from Mainland China subsidiaries" (in duplicate, see Attachments
1, 2) before processing the settlemant. The settlement amount of inward remittances of
principal of loans shall not be counted toward the firm's accumulated settlement amount of
the current year.
(2) For the settlement of the repayment of principal and interest to be remitted to a third
area or Mainland China: A firm may present the second slip of the aforementioned original
"Declaration Statement for Loans" issued by a banking enterprise when purchasing foreign
exchange for the repayment of principal and interest. Foreign exchange purchased for the
repayment of principal and interest shall not be counted toward the firm's accumulated
settlement amount of the current year.
|
|
8. When processing the settlements of inward remittances of dividends and profits
and subsequent outward remittances made by firms described in Article 7,
banking enterprises shall, depending upon the circumstances, beware of the
following matters:
(1) Settlements of inward remittances of dividends and profits from a third area or
Mainland China:
Banking enterprises shall verify the letter from the Investment Commission of
the Ministry of Economic Affairs approving the firm to invest in Third Area or
Mainland China and all relevant documents regarding dividend distribution and
the profits of such subsidiaries located in Third Area or Mainland China
provided by such firms. Banking enterprises may process the settlements
after verifying that the “Declaration Statement for Inward Remittance of
Dividends and the Profits from its Subsidiaries in a third area" or the
"Declaration Statement for Inward Remittance of Dividends and Profits from Mainland
China Subsidiaries" (in duplicate, see Attachments 3,4) is correct. Such
settlement amount for dividends and profits from its subsidiaries in a third area or
Mainland China will not be counted toward the firm’s accumulated settlement amount
of the current year.
(2) Subsequent settlement of outward remittances from Taiwan:
A firm may apply to engage in such outward remittance based on the above-mentioned
"Declaration Statement for Inward Remittance of Dividends and Profits" issued by
banking enterprises. There is no restriction on the nature and designated area of
such remittance; however, for outward remittances to the Mainland China area, the firm
shall follow Article 26. If the firm possesses the dividends and profits remitted inward
in a foreign currency, the subsequent outward remittances shall be made in the foreign
currency. If the inward remittances of dividends and profits were settled in New Taiwan
dollars, then the firm may make outward remittances either by using its own foreign
exchange deposit or purchasing foreign exchange. Such settlement of outward remittances
will not be counted toward the firm’s accumulated settlement amount of the current year.
|
|
9. Banking enterprises shall assist a declarant to truthfully fill out the "declarant's
ID number" on the Declaration Statement in accordance with the following provisions:
(1) Companies and firms: Indicate the Uniform Business No. provided by the competent
authorities for its establishment and registration.
(2) Associations: Indicate the uniform tax withholding number assigned by the tax
authorities. For associations without such uniform number, indicate the name of the
competent authorities approving its registration and its registration certificate
number.
(3) Individuals:
A. An individual with a Citizen's ID Card: Write down the Citizen’s ID No. and date
of birth.
B. Holder of a relevant Taiwan Area Resident Certificate or Alien Resident
Certificate with a validity of more than one year : Indicate the uniform
identification number, the date of issuance, date of expiry (enter 999/12/31 for
the date of expiry for Alien Permanent Resident Certificate), and date of birth as
specified on the certificate.
C. Minors: For natural persons under 20 years of age bear a Citizen’s ID Card or a
relevant Taiwan Area Resident Certificate or Alien Resident Certificate with a
validity of more than one year, the “declarant's ID number” on the Declaration
Statement shall be provided in the item of “Individual” in accordance with the
provisions in the preceding two items, and the legal representative of the minors
shall also sign on the Declaration Statement at the “Signature of the Declarant
and its responsible person” section.
(4) Non-residents:
A. Natural persons (including minors):
i. Holders of a relevant Taiwan Area Resident Certificate or Alien Resident
Certificate with a validity of less than one year, and for citizens of Mainland
China and residents of Hong Kong or Macao holding a Taiwan Entry and Exit Permit
or a relevant entry document but not having resident status: Indicate the
nationality as shown on the certificate or permit, the uniform identification
number (or the permit number if there is no uniform identification number), and
date of birth.
ii. Foreign passport holders, staffs of diplomatic missions in the Republic of China
and their family members holding an identification card issued by the Ministry
of Foreign Affairs, and persons holding a ROC passport but not having a
Citizen’s ID Card: Indicate nationality, passport (certificate) number and date
of birth.
B. Legal entities:
i. Non-resident legal entities: Shall authorize its representative or agent in the
R.O.C. to act as the declarant. In its Declaration Statement, the said
representative or agent shall write down his/her ID No. or certificate number
and clearly specify the representation/ agency relationship.
ii. Foreign financial institutions: Shall authorize a local financial institution to
act as the declarant. In its Declaration Statement, the said local financial
institution shall write down the identification number on the establishment
permit issued by the competent authorities and clearly specify the
representation/agency relationship. However, a foreign institution outside the
territory of the R.O.C. may not sell foreign exchange through inward remittances.
|
|
10. Information written down in a Declaration Statement concerns the rights and
obligations of a declarant. In case a Declaration Statement is filled out for a
declarant by a third person, the declarant shall affix her/his seal or signature on
the Declaration Statement after verifying the accuracy of all the declared items to
specify explicitly his/her responsibility.
|
|
11. Banking enterprises shall assist declarants to fill out the Declaration
Statement carefully and truthfully. In the event that the nature of the
settlement and the amount to be settled are inconsistent with the status or
occupation of the declarant or contrary to the judgment of common sense, the
banking enterprise shall assist the declarant to declare truthfully before
processing the settlement.
|
|
12. In case a declarant uses a seal for a specific purpose on his Declaration
Statement, the purpose of the seal shall be one for making settlements or
relevant to the settlements.
|
|
13. The amount stated in a Declaration Statement may not be corrected. If any other
fact stated in the Declaration Statement is corrected, the declarant shall
affix his/her seal or signature next to the correction.
|
|
14. Banking enterprises shall check whether all items on a Declaration Statement are
properly filled out. The nature of settlement shall be documented accurately in lieu
of a remittance classification code. When there is more than one nature or currency
of settlement, such natures, currencies and settlement amounts shall be seperatly
indicated. The nature of settlement shall be declared according to the following
provisions:
(1) The nature of foreign exchange receipt or transaction: Companies, firms,
associations and individuals shall indicate the sources of their foreign exchange
revenue; non-residents shall indicate the use of New Taiwan dollar proceeds from
sale of foreign exchange.
(2) The nature of foreign exchange disbursement or transaction: Companies, firms,
associations and individuals shall indicate the use of their foreign exchange
proceeds; non-residents shall indicate the sources of New Taiwan dollar revenue for
purchasing foreign exchange.
|
|
15. For foreign exchange settlements where a customer first deposits inward remittances from
abroad or the OBU of a domestic bank into his/her foreign currency deposit account and then
withdraws the money, or remits money in through another domestic bank or through the OBU of
a domestic bank, the banking enterprise shall take note of the following when assisting the
customer in filing the declaration:
(1) The nature of settlement shall be the same as that of inward remittances from abroad or
through the OBU of a domestic bank.
(2) For the “origin of remittance”, put down“domestic” in the case of withdrawal from
foreign exchange deposit accounts or inward remittances from another domestic bank; put
down “OBU of domestic bank” in the case of selling foreign exchange from inward
remittances through the OBU of a domestic bank.
|
|
16. If a customer buys foreign exchange and deposits it into his foreign currency
deposit account or remits it to another domestic bank, and then remits the
money again abroad or to the OBU of a domestic bank, or the customer buys
foreign exchange and remits it to the OBU of a domestic bank directly, the
banking enterprise shall take note of the following when assisting the customer
in filing the declaration:
(1) The nature of the foreign exchange disbursement or transaction shall be the
same as that of the outward remittance abroad or to the OBU of a domestic bank.
(2) As for the “ destination of remittances”, put down “domestic” in the case
of money deposited in a foreign currency deposit account temporarily or
remitted to another domestic bank; put down “OBU of domestic bank” in the
case of money remitted to the OBU of a domestic bank.
|
|
17. When a banking enterprise accepts a declarant's application in person at the banking
enterprise for making declarations of foreign exchange settlements via the Internet in
accordance with Article 10 of the Regulations for Declaration, the related terms and
conditions of the agreement between the banking enterprise and the declarant shall include
matters prescribed in Article 11 of the Regulations for Declaration.
|
|
18. Banking enterprises shall design online control programs according to declaration
procedures which are applicable for making declarations in person at the banking
enterprise, provide online declaration instructions, the Regulations for Declaration and
relevant provisions on the website, and assist declarants in making declarations through
the Internet.
|
|
19. When a declarant completes a foreign exchange settlement declaration through the Internet
pursuant to Subparagraph 3, Paragraph 1, Article 4 of the Regulations for Declaration, the
banking enterprise shall use an online real-time enquiry system and count the amount of
settlement toward the accumulated settlement amount of the current year to check the
declarant's aggregate settlement amount for that year. The banking enterprise, before
processing the declaration, shall verify that the above amount does not exceed the Annual
Aggregate Settlement Amount, and maintain the enquiry records on the declaration medium
retained by the banking enterprise.
|
|
20.Before processing a declarant’s declaration of foreign exchange settlement via the Internet
prescribed in Article 5 of the Regulations for Declaration, the banking enterprise shall
first verify the veracity of foreign exchange settlement documents provided, faxed, or
scanned by the declarant. To facilitate future examination, the banking enterprise shall
write down the amount and date of foreign exchange settlements, the Foreign Exchange Memo
number and affix its signature or seal on the relevant documents.
|
|
21. Banking enterprises may not alterfy any of the declarant's declaration data it
preserves in electronic format.
|
|
22. Before processing the declaration of foreign exchange settlement, a banking
enterprise shall first verify that a declarant's registration certificate number
indicated by a declarant according to the provisions of Point 9 herein is the same as
the corresponding number on the declarant's identification document or primary
registration data. The banking enterprise shall also verify the entrustment or
delegation document for declaring settlement, and confirm that the foreign exchange
involved in the receipts, disbursements, or transactions actually belongs to or is
needed by the declarant before processing the declaration. A banking enterprise shall
also notice that:
(1) if the declarant is a company or a firm, the banking enterprise shall visit the
website of Commerce Industrial Services Portal of the Ministry of Economic Affairs
and go to “Enquiry of company registration” or “Enquiry of business
registration” to enquire and verify the registration data of the company or firm.
(2) if the declarant is a non-resident under 20 years of age, the banking enterprise
may verify the required documents in accordance with its internal operation
procedure and applicable provisions of the Civil Code on a case-by-case basis.
|
|
23. A banking enterprise shall verify that information recorded on the Declaration
Statement is consistent with corresponding information on any contracts,
letters of approval, or other evidencing documents related to the foreign
exchange receipts, disbursements, or transactions before processing a
declarant's foreign exchange settlement declaration in accordance with Article
5 of the Regulations for Declaration. Photocopies of the relevant evidencing
documents shall be preserved for future reference. The banking enterprise shall
be attentive and strive to prevent declarants from breaking up large
settlements into smaller ones to evade the regulation in which evidencing
documents shall be submitted to confirm transactions.
|
|
24. Banking enterprises that handle declarations of foreign exchange settlements needed
for direct investments, portfolio investments, or futures transactions approved by
the competent authorities, or for investments that are filed ex-post with the
competent authorities under the “Statute for Investment by Overseas Chinese” or
“Statute for Investment by Foreign Nationals” shall comply with the provisions of
attached Tables 1 through 8 concerning documents to be verified. For inward and
outward remittances from and to Mainland Area, banking enterprises shall in addition
verify documents provided in Point 26 herein and notice the following:
(1) Investments in third areas (including indirect investments in Mainland China Area
through a company registered in third area): Except for cases that make use of
Annual Aggregate Settlement Amount and the amount of any single foreign exchange
settlement exceeds the amounts specified in Subparagraphs 1 and 2, Article 5 of
the Regulations for Declaration, in which the concrete foreign investment plan or
relevant evidencing documents shall be verified, the banking enterprises shall
verify documents specified in the attached Table 1 for other cases. But for
indirect investments in Mainland China through a third-area company, the aggregate
amount remitted out for any single investment case shall be limited to
US$1,000,000; for any single investment case that exceeds US$1,000,000, the
banking enterprise shall also verify the letter from the Ministry of Economic
Affairs on indirect investment in Mainland China Area.
(2) Foreign exchange settlement cases that are declared in accordance with the
provisions of attached Tables 1 through 8, and for which, the banking enterprise,
after verified relevant evidencing documents, needs not count the settlement
amount in the declarant’s aggregate settlement amount of the current year as
provided in the attached tables. However for foreign exchange settlement against
the New Taiwan dollar made by individuals for investment in a third area, the
amount of settlement shall be counted in the declarant’s aggregate settlement
amount of the current year, regardless of such investment has been approved by the
competent authorities .
|
|
25. Outward remittances of repayment of principal and interest payment on medium- and
long-term external debts, banking enterprises shall comply with the provisions of
attached Table 9 concerning documents to be verified.
For the amount of foreign exchange sold or purchased by a private enterprise in
relation to funds borrowed overseas for which the enterprise has filled out the
“Statement of Medium- and Long-Term External Debts by Private Enterprises” for the
previous quarter that bears the approval stamp of the Department and subsequent
repayments of principal and interest, banking enterprises shall first enquire online
and count the amount in the aggregate settlement amount of the current year of the
said enterprise. However, for exchange settlements relating to repayments of
principal and interest, the banking enterprise may still process the settlements
without obtaining the prior approval from the Department even if the said enterprise
has used up its Annual Aggregate Settlement Amount.
|
|
26.Banking enterprises that process outward remittances to and inward remittances from
Mainland China Area shall comply with the provisions of attached Table 10 concerning
documents to be verified and notice note of the following situations:
(1) Banking enterprises may not process inward or outward remittances for the purpose of
direct investments and portfolio investments not approved by the competent
authorities, or for other purposes not approved according to laws and regulations.
(2) Foreign exchange settlement against New Taiwan dollar for direct investment in
Mainland China:
A. Outward remittances of equity investment or working capital: Except for individuals
where the amount of settlement shall be counted in aggregate settlement amount of
the current year, the amount of settlement needs not be counted in the aggregate
settlement amount of the current year; for individuals, the amount of settlement
shall be counted of the current year in case of companies, firms and associations.
B. Inward remittances: In case of companies, firms and associations, the amount of
settlement needs not be counted in the aggregate settlement amount of the current
year; in case of individuals, the amount of settlement shall be counted in the
aggregate settlement amount of the current year. However, if the repatriation of
funds which originally remitted out and counted in the declarant’s Annual
Aggregate Settlement Amount, then the repatriation shall be excluded from the
declarant’s aggregate settlement amount of the current year.
(3) Foreign exchange settlement against New Taiwan dollar for portfolio investment in
Mainland China:
A. Settlements carried out in accordance with the provisions of attached Table 4 or
Table 11, the amount of settlement needs not be counted in the trustee’s or the
principal’s aggregate settlement amount of the current year.
B. Settlements carried out in accordance with the provisions of attached Table 12 or
in relation to an enterprise’s own portfolio investment, the amount of settlement
shall be counted in the trustee’s or the principal’s aggregate settlement amount
of the current year.
|
|
27. Banking enterprises shall, based on the type of entrusted settlement, verify the
following documents before processing the declaration of a company entrusted to
settle foreign exchange (excluding Renminbi, unless otherwise stipulated by the
Bank) against New Taiwan dollars in the name of the trustee in accordance with
Paragraph 1, Article 8 of the Regulations for Declaration; banking enterprises
need not enquire the amount of settlement, nor counting it in the trustee’s or
the principal’s aggregate settlement amount of the current year:
(1) Declarations of foreign exchange settlements relating to salaries of foreign
workers in Taiwan by private employment service organizations: The Declaration
Statement completed by the service organization, the valid permit of the private
employment service organization issued by the Ministry of Labor, the latest
assessment certificate identifying the declarant as a “private employment service
organization engaging in cross-border human resources service”, a power of attorney
from foreign workers on foreign exchange settlement related to salaries (i.e.
Attachment 5), and a detailed list of outward remittances of salaries on behalf of
foreign workers in Taiwan (i.e. Attachment 6); and in the field of nature of
settlement in the Declaration Statement, the declarant shall choose item 2 and
write down “remittances of salaries on behalf of foreign workers in Taiwan”in the
Declaration Statement.
(2) Declarations of foreign exchange settlements relating to actual, online cross-border
transactions of merchandise or services by data processing service providers on
behalf of service users: The Declaration Statement completed by the service
provider, a valid assessment certificate issued by the Ministry of Economic Affairs,
a power of attorney for declaration of foreign exchange settlement (when the contract
entered into between the service provider and service user explicitly states that the
service provider is entrusted to make foreign exchange settlements, a statement from
the service provider declaring that it has received the authorization of service
users to make foreign exchange settlements may be presented in lieu of the power of
attorney), and a detailed list of settlements (including the name of each service
user, uniform business number or ID number, date of birth of each service user, name
of product transacted or type of service, foreign currency and amount settled).
(3) Declarations of foreign exchange settlements on behalf of customers by electronic
payment institutions or approved institutions as defined in the “Regulations
Governing Cooperating with or Assisting Foreign Institutions in Engaging in
Activities Associated with Electronic Payment Business within the Territory of the
Republic of China”: The Declaration Statement completed by the institution, business
license or letter of approval (explicitly states that cross-border transactions are
included) issued by the Financial Supervisory Commission ("FSC"), a power of attorney
for declaration of foreign exchange settlement (when the contract entered into
between the institution and customer explicitly states that the institution is
entrusted to make foreign exchange settlements, a statement from the institution
declaring that it has received the authorization of customers to make foreign
exchange settlement may be presented in lieu of the power of attorney), and a
detailed list of settlements (including the name of each customer, uniform business
number or ID number, date of birth of each customer, name of product transacted or
type of service, foreign currency and amount settled).
(4) The settlement amount on the detailed list of settlements shall be the same with the
actual settlement amount. If the settlement amount or other contents are found to be
unreasonable or abnormal, the banking enterprise shall request the trustee to provide
all documents and relevant information, and may process such settlement only after
verifying the settlement is consistent with what has been declared.
|
|
28. Banking enterprises shall verify relevant documents provided in attached Table 11
before processing declarations of foreign exchange settlements against New Taiwan
dollars made by enterprises engaging in businesses listed in the same table with the
consent or approval of the Bank or the FSC; banking enterprises need not enquire
the amount of settlement, nor counting it in the trustee’s or the principal’s
aggregate settlement amount of the current year, but shall observe the following:
(1) Unless it is otherwise regulated by the Bank, banking enterprises shall not process
declarations of foreign exchange settlements involving Renminbi made by trustees on
behalf of principals for buying or selling renminbi-denominated investment products.
(2) When the destination of outward remittance or the origin of inward remittance is
Mainland Area, banking enterprises shall verify documents specified in Point 26
herein.
|
|
29. Banking enterprises shall verify relevant documents specified in attached Table
12 before processing the declarations of foreign exchange settlements against New
Taiwan dollars made by enterprises engaging in businesses listed in the same table
approval of the Bank or the FSC; banking enterprises shall key in the amount of
settlement online for enquiring and counting it in the principal’s aggregate
settlement amount of the current year. However if the repatriation of funds which
originally remitted out and counted in the principal’s Annual Aggregate Settlement
Amount may be settled without being counted in the principal’s aggregate settlement
amount of the current year upon the presentation of a statement made by the
principal. Banking enterprises shall also observe the following:
(1) Unless it is otherwise regulated by the Bank, banking enterprises shall not
process declarations of foreign exchange settlements involving renminbi made by
trustees on behalf of principals for buying or selling renminbi- denominated
investment products.
(2) When the destination of outward remittance or the origin of inward remittance is
Mainland Area, banking enterprises shall verify documents provided in Point 26
herein.
|
|
30. To correct the content of the Declaration Statement, a declarant shall submit
the application along with the following documents to the Bank through the
original handling banking enterprise:
(1) Correction of declaration of foreign exchange settlements against the New
Taiwan dollar:
A. A declarant unintentionally making an untruthful declaration: Submit an
opinion letter issued by a lawyer, an accountant or a banking enterprise
indicating that the untruthful declaration was unintentional, the relevant
evidencing documents, the original Declaration Statement and the Foreign
Exchange Purchase (Sale) Memo (those who declared via the Internet shall
submit the Declaration Statement and the Foreign Exchange Purchase (Sale) Memo
printed by the banking enterprise), and the corrected Declaration Statement
and the Foreign Exchange Purchase (Sale) Memo. The content of the opinion
letter shall include the declarant's name, the settlement date and amount, the
content of the original declaration, the correct content of the declaration,
and the reason for making the correction.
B. A declarant intentionally making an untruthful declaration, and having already
been penalized pursuant to Paragraph 1, Article 20 of Foreign Exchange Control
Act: Submit the receipt of the fine paid, the corrected Declaration Statement,
the Foreign Exchange Purchase (Sale) Memo and the relevant evidencing
documents.
(2) Correction of the certificate of foreign exchange settlements for
export/import or other transaction certificates: Submit the original
certificates drawn by the banking enterprise (those who declared via the
Internet shall submit the certificates printed by the banking enterprise), the
corrected certificates, and documents supporting the correction within seven
business days after the said certificate was drawn by the banking enterprise.
(3) Correction of Foreign Exchange Purchase (Sale) Memo with amount less than
500,000 New Taiwan dollars: Submit the original Foreign Exchange Purchase
(Sale) Memo drawn by the banking enterprise (those who declared via the
Internet shall submit the memo printed by the banking enterprise), the
corrected Foreign Exchange Purchase (Sale) Memo, and documents supporting the
correction, within seven business days after the said Foreign Exchange
Purchase (Sale) Memo was drawn by the banking enterprise.
|
|
31.When processing a declarant's declaration of foreign exchange settlement, a banking
enterprise shall verify the relevant documents in accordance with the attached tables
of the Directions and the related regulations stipulated by the Bank. At the same
time, the banking enterprise shall not only request the declarant to present the
relevant documents for verification, but also indicate the date and amount of the
settlement on the relevant documents, affix the banking enterprise's signature/seal
thereon, and keep one set of photocopies of those documents for future reference. In
addition, the banking enterprise shall submit to the Department the first copy of the
Declaration Statement, or information that is deemed the same as a declaration in
accordance with Articles 4, 10 or 13 of the Regulations for Declaration on the next
business day following the transaction without submitting not accompanied by other
supporting documents.
|
|
|
