Supreme Court E-Library
Information At Your Fingertips


  View printer friendly version

(NAR) VOL. 16 NO. 3 / JULY - SEPTEMBER 2005

[ BSP CIRCULAR LETTER, July 11, 2005 ]

COMPUTATION SHEET REQUIRED FOR CAPITAL REPATRIATION/REMITTANCE OF DIVIDENDS/PROFITS OF BANGKO SENTRAL NG PILIPINAS (BSP)-REGISTERED FOREIGN INVESTMENTS



Please be advised that the Computation Sheet, Attachment 2*  of, and required under Nos. 1.b.4 and 2.6 of Item C, Annex B, of BSP Circular No. 388 dated 26 May 2003, to support sales of foreign exchange (FX) for capital repatriation/remittance of dividends/profits of foreign investments duly registered with the BSP, must be verified as correct by the AAB before such AAB shall sell foreign exchange for said capital repatriation/outward remittance.

Accordingly, such AAB shall indicate "Verified as Correct" at the bottom of the said Computation Sheet to be signed by its authorized officer with the "Date Verified" also indicated, in accordance with the attached sample format.

Over-remittance due to incorrect computation under said Computation Sheet shall subject the FX-selling AAB concerned to appropriate BSP sanctions/fines.

Adopted: 11 July 2005

(SGD.) CELIA M. GONZALEZ
Managing Director

* Text Available at Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City.

© Supreme Court E-Library 2019
This website was designed and developed, and is maintained, by the E-Library Technical Staff in collaboration with the Management Information Systems Office.