Balance of Payments User Guide. Think Corporate Banking. Think RMB. BopCUS 3 l 1

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "Balance of Payments User Guide. Think Corporate Banking. Think RMB. BopCUS 3 l 1"

Transcription

1 Balance of Payments User Guide Think Corporate Banking. Think RMB. BopCUS 3 l 1

2

3 Index I BoPCUS 3 pg What is BoPCUS? Background 01 What is changing in BoPCUS 3 A. Updates to customer information 02 B. Changes to the BoP codes 03 C. Additional third party information required 04 BoPCUS Inflow Index 07 BoPCUS Outflow Index 27 Frequently asked questions 45 Balance of Payments Reporting (BoP Reporting for short) is an electronic message system used by Authorised Dealers (i.e. banks) to report cross-border transactions to the South African Reserve Bank (SARB). From 19 August 2013 there will be changes to the BoP reporting system. RMB employees assisting clients with cross-border transactions may be prompted to supply additional information or select new BoP codes to describe a client s transaction. This guide summarises the changes that will be implemented. BopCus Version 3

4 What is BoPCUS? Background 1. International trade and other international transactions result in a flow of funds between South Africa and other countries. 2. To control, monitor and limit this outflow and inflow of capital, Exchange controls (Excon) are implemented in South Africa and other countries. In SA, Excon is the responsibility of the Treasury, which has largely delegated this authority to the South African Reserve Bank (SARB). 3. The Balance of Payments (BoP) is a systematic record of all economic transactions between the residents of the reporting country (e.g. South Africa) and the rest of the world in a specific period (usually quarterly or yearly). The SARB is officially responsible for the compilation of South Africa's BoP statistics. 4. All transactions relating to the flow of goods, services and funds across national boundaries are recorded in the BoP of South Africa and the countries involved in the transaction or trade. This determines how much money is going in and out of a country. 5. Flows reflected in the BoP affect the total economy s activities associated with production, generation and distribution of income, consumption, and accumulation activities e.g. credit and debit entries for goods and services in BoP accounts are equivalent to flows of exports and imports of goods and services. 6. These flows are reflected in the economy s account for goods and services and consequently affect the measurement of gross domestic product (GDP) and its composition in terms of final demand components e.g. final consumption, gross capital formation, etc. 7. Data for these transactions are obtained from various sources, including the South African Revenue Service (SARS), government departments, public corporations, and the private banking sector. From the Rulings The objective of the Reporting System is to ensure accurate and comprehensive reporting of all data by Authorised Dealers on crossborder transactions for compilation of: Balance of payments statistics by the Research Department of the South African Reserve Bank Foreign debt statistics and repayment profiles to support monetary policy decisions Statistical information relating to the nature, volume and values of the various crossborder flows and provide the appropriate information for economic and financial management decisions, as well as planning and policy formulation. Excerpt from SA Reserve Bank Rulings, Ruling J What is changing in BoPCUS 3? During the first phase of BoPCUS 3, the following changes will be implemented: A. Updates to customer information B. B Changes to the BoP codes C Third party information required* *SA resident information will be required based on the relevant BoP code 01 l BopCUS 3

5 A Updates to clients information Clients must provide additional information to the bank from 19 August Additional personal information fields are mandatory for the completion of foreign exchange transactions. From Entities: Trading name, if applicable Institutional sector (The main institutional sector of each entity: Financial Corporate / Non-financial Corporate / general Government / Household such as partnerships, trusts and one man businesses) Industrial classification (The main production activity of each entity: Agriculture, Mining, Transport, Construction, etc.) Loan tenor and interest rate (in the case of repayment of foreign loans) Transport document number (in the case of the importation of goods) Sub BoP category* Third party details* Additional import related data** From Individuals: Gender Date of birth Foreign ID number * Tax clearance certificate reference (in the case of individual foreign investment allowances) Loan tenor and interest rate (in the case of foreign loans) Transport document number (in the case of the importation of goods) Sub BoP category* Third party details* For example: A customer visits a branch to make an outward payment to pay for imported goods. While completing the transaction, the system will require additional information for the transaction to complete successfully. A customer wants to complete a MoneyGram transaction on a cellphone. The customer will receive an error message directing them to a branch to update their personal profile with the additional details like the province in which they reside. Thereafter the transaction can be completed. The impact Relevant to all transactions. Without the additional information, transaction will not be successful. When completing transactions on systems like Karabo or Vantage, the system will prompt users to supply additional mandatory information. Customers may have to be redirected to a branch customer representative to update their personal / entity profile on Hogan. *Where applicable **The SARB Import Verification System (IVS) is used by the bank to authenticate customs notification by the importer BopCUS 3 l 02

6 B Changes to the BoP codes The codes that are used to report the nature of foreign exchange transactions will change. The BoP Code informs the SARB of the type of payment the client is making or receiving. The client is fully accountable for supplying the correct and accurate BoP Category or transaction description. Categories are completely different Sub-categories are applicable in some instances For example: Current category for gift payments is: 501 As from 19 August 2013, the BoP Category for gifts will be: BOP 3 For example: Current category for freight payments is: 301 As from 19 August 2013, the BoP Categories for freight will be as follows: Payment for passenger services- road 270/01 Payment for passenger services- rail 270/02 Payment for passenger services- sea 270/03 Payment for passenger services- air 270/04 Payment for freight services- road 271/01 Payment for freight services- rail 271/02 Payment for freight services- sea 271/03 Payment for freight services- air 271/04 The impact Relevant to all transactions When completing a transaction, the system will provide a list of the new BoP codes. Select the new code from the list that corresponds to the reason for the transaction. Using the old, familiar codes will result in incorrect reporting to the SARB. 03 l BopCUS 3

7 C Additional information required when doing a transaction on behalf of another party (third party) When doing a foreign exchange transaction on behalf of a third party, a customer is required to provide information about the third party. Third party transactions are transactions made by an RMB account holder, on behalf of another person or entity, who is not the holder of the transacting account. For example: Where the father is paying for the travel on behalf of a family, the details of the wife and children must be provided as third party details. Where an agent is making an import or export payment on behalf of various South African entities, details of the entities must be provided. Where the financial institution is making payment in respect of foreign investments of various SA parties, the details of the SA parties must be supplied. The impact Relevant only to certain transactions. When customers do transactions on behalf of other parties, select the option on the system and complete the additional information required as prompted by the system. Third party information is mandatory for certain BoP codes, but can be captured for other codes. BopCUS 3 l 04

8 Index I Inflow pg A Merchandise Transaction adjustments 07 Exports: Advance payments 07 Exports 07 Exports: Other 08 B Intellectual property and other services Transaction adjustments 10 Charges for the use of intellectual property 10 Disposal of intellectual property (Excluding computer related and audiovisual) Research and Development 10 Audiovisual and related items 10 Computer software and related items 11 Technical related services 11 Travel services for non-residents 12 Travel services for residents 12 Travel services in respect of third parties 12 Telecommunication and information services 12 Financial services 13 Construction services 13 Government services 13 Study related services 13 Other business services rendered C Transactions relating to income and yields on financial assets Transaction adjustments 14 Income receipts 14 D Transfers of a current nature Transaction adjustments 16 Current payments l BopCus 3

9 E Transfers of a capital nature Capital transfers and immigrants Transaction adjustments 18 Capital transfers relating to government / corporate entities (excluding loans) Capital transfers by non-resident individuals 18 Disinvestment of capital Capital transfers by South African resident individuals Disinvestment of capital to a resident Foreign Currency Account 20 Disinvestment of capital 20 Immigrants 20 Financial investments / disinvestments and prudential investments Transaction adjustments 20 Financial investments / disinvestments (excluding local institutional investors) Investment by a non-resident 20 Disinvestment by a resident corporate entity 20 Inward listed investments 21 Prudential investments (institutional investors and banks) Derivatives Transaction adjustments 22 Derivatives (excluding inward listed) 22 F Loan and miscellaneous payments Transaction adjustments 24 Loans (capital portion) 24 Loans granted to residents 24 Loans repaid by resident temporarily abroad 24 Loans repaid by non-residents 24 Miscellaneous payments 24 BopCus 3 l 06

10 Inflow A. Merchandise Description BoPCUS 3 Sub-Cat BoPCUS 2 Transaction adjustments Adjustments / Reversals / Refunds applicable to merchandise / 950 Exports: Advance payments Export advance payment (excluding capital goods, gold, platinum, crude oil, refined petroleum products, diamonds, steel, coal, iron ore and goods exported via the South African Post Office) Export advance payment - capital goods Export advance payment - gold Export advance payment - platinum Export advance payment - crude oil Export advance payment - refined petroleum products Export advance payment - diamonds Export advance payment - steel Export advance payment - coal Export advance payment - iron ore Export advance payment - goods exported via the South African Post Office Exports Export payments (excluding capital goods, gold, platinum, crude oil, refined petroleum products, diamonds, steel, coal, iron ore and goods exported via the South African Post Office) / 103 Export payment - capital goods / 103 Export payment - gold Export payment - platinum / 103 Export payment - crude oil / 103 Export payment - refined petroleum products / 103 Export payment - diamonds Export payment - steel / 103 Export payment - coal / 103 Export payment - iron ore / l BopCUS 3

11 Description BoPCUS 3 Sub-Cat BoPCUS 2 Export payment - goods exported via the South African Post Office Exports: Other Consumables acquired in port Trade finance repayments in respect of exports Export proceeds where the Customs value of the shipment is less than R500 Export payments where goods were declared as part of passenger baggage and no UCR is available / 103 / 112 Proceeds for goods purchased by non-residents where no physical export will take place, excluding gold, platinum, crude oil, refined petroleum products, diamonds, steel, coal and iron ore as well as merchanting transactions Proceeds for gold purchased by non-residents where no physical export will take place, excluding merchanting transactions Proceeds for platinum purchased by non-residents where no physical export will take place, excluding merchanting transactions Proceeds for crude oil purchased by non-residents where no physical export will take place, excluding merchanting transactions Proceeds for refined petroleum purchased by non-residents where no physical export will take place, excluding merchanting transactions Proceeds for diamonds purchased by non-residents where no physical export will take place, excluding merchanting transactions Proceeds for steel purchased by non-residents where no physical export will take place, excluding merchanting transactions Proceeds for coal purchased by non-residents where no physical export will take place, excluding merchanting transactions Proceeds for iron ore purchased by non-residents where no physical export will take place, excluding merchanting transactions Merchanting transaction BopCUS 3 l 08

12 09 l BopCUS 3

13 B. Intellectual property and other services Description BoPCUS 3 Sub-Cat BoPCUS 2 Transaction adjustments Adjustments / Reversals / Refunds applicable to intellectual property and service related items / 950 Charges for the use of intellectual property Rights assigned for licenses to reproduce and/or distribute / 313 / 605 Rights assigned for using patents and inventions (licensing) / 605 Rights assigned for using patterns and designs (including industrial processes) Rights assigned for using copyrights / 313 / 605 Rights assigned for using franchises and trademarks Disposal of intellectual property (excluding computer related and audiovisual) Disposal of patents and inventions / 605 Disposal of patterns and designs (including industrial processes) / 605 Disposal of copyrights / 313 / 605 Disposal of franchises and trademarks / 605 Research and development Proceeds received for research and development services Funding received for research and development Audiovisual and related items Sales of original manuscripts, sound recordings and films Receipt of funds relating to the production of motion pictures, radio and television programs and musical recordings BopCUS 3 l 10

14 Description BoPCUS 3 Sub-Cat BoPCUS 2 Computer software and related items The outright selling of ownership rights of software / Computer-related services including maintenance, repair and consultancy Commercial sales of customised software and related licences for use by customers Commercial sales of non-customised software on physical media with periodic licence to use Commercial sales of non-customised software provided on physical media with right to perpetual (ongoing) use / 312 / / 102 / 103 / 112 / 113 / / 102 / 103 / 112 / 113 / / 102 / 103 / 112 / 113 / 312 Commercial sales of non-customised software provided for / 312 downloading or electronically made available with periodic licence Commercial sales of non-customised software provided for / 312 downloading or electronically made available with single payment Technical related services Fees for processing - processing done on materials (excluding gold, platinum, crude oil, refined petroleum products, diamonds, steel, coal and iron ore) / 321 Fees for processing - processing done on gold Fees for processing - processing done on platinum Fees for processing - processing done on crude oil Fees for processing - processing done on refined petroleum products Fees for processing - processing done on diamonds Fees for processing - processing done on steel Fees for processing - processing done on coal Fees for processing - processing done on iron ore Repairs and maintenance on machinery and equipment Architectural, engineering and other technical services Agricultural, mining, waste treatment and depollution services l BopCUS 3

15 Description BoPCUS 3 Sub-Cat BoPCUS 2 Travel services for non-residents Travel services for non-residents - business travel Travel services for non-residents - holiday travel Foreign exchange accepted by residents from non-residents Travel services for residents Travel services for residents - business travel Travel services for residents - holiday travel Travel services in respect of third parties Proceeds for travel services in respect of third parties - business travel Proceeds for travel services in respect of third parties - holiday travel Telecommunication and information services Proceeds for telecommunication services Proceeds for information services including data, news-related and news agency fees / 314 Transportation services Proceeds for passenger services - road Proceeds for passenger services - rail Proceeds for passenger services - sea Proceeds for passenger services - air Proceeds for freight services - road Proceeds for freight services - rail Proceeds for freight services - sea Proceeds for freight services - air Proceeds for other transport services - road / 308 Proceeds for other transport services - rail / 308 Proceeds for other transport services - sea / 308 Proceeds for other transport services - air / 308 Proceeds for postal and courier services - road Proceeds for postal and courier services - rail BopCUS 3 l 12

16 Description BoPCUS 3 Sub-Cat BoPCUS 2 Proceeds for postal and courier services - sea Proceeds for postal and courier services - air Financial services provided Commission and fees Proceeds for financial services charged and advice provided Construction services Proceeds for construction services Government services Proceeds for government services / 901 Diplomatic transfers Study related services Tuition fees Other business services rendered Proceeds for legal services Proceeds for accounting services Proceeds for management consulting services Proceeds for public relation services Proceeds for advertising and market research services Proceeds for managerial services Proceeds for medical and dental services Proceeds for educational services Operational leasing Proceeds for cultural and recreational services Proceeds for other business services not included elsewhere l BopCUS 3

17 C. Transactions relating to income and yields on financial assets Description BoPCUS 3 Sub-Cat BoPCUS 2 Transaction adjustments Adjustments / Reversals / Refunds related to income and yields on financial assets / 950 Income receipts Dividends Branch profits Compensation paid by a non-resident to a resident employee temporarily abroad (excluding remittances) Compensation paid by a non-resident to a non-resident employee in South Africa (excluding remittances) Compensation paid by a non-resident to a migrant worker employee (excluding remittances) Compensation paid by a non-resident to a foreign national contract worker employee (excluding remittances) Commission or brokerage Rental Interest received from a resident temporarily abroad in respect of loans Interest received from a non-resident in respect of individual loans Interest received from a non-resident in respect of study loans Interest received from a non-resident in respect of shareholders loans Interest received from a non-resident in respect of third party loans Interest received from a non-resident in respect of trade finance loans Interest received from a non-resident in respect of a bond Interest received not in respect of loans Income in respect of inward listed securities equity individual Income in respect of inward listed securities equity corporate Income in respect of inward listed securities equity bank BopCUS 3 l 14

18 Description BoPCUS 3 Sub-Cat BoPCUS 2 Income in respect of inward listed securities equity institution Income in respect of inward listed securities debt individual Income in respect of inward listed securities debt corporate Income in respect of inward listed securities debt bank Income in respect of inward listed securities debt institution Income in respect of inward listed securities derivatives individual Income in respect of inward listed securities derivatives corporate Income in respect of inward listed securities derivatives bank Income in respect of inward listed securities derivatives institution Income earned abroad by a resident on an individual investment l BopCUS 3

19 D. Transfers of a current nature Description BoPCUS 3 Sub-Cat BoPCUS 2 Transaction adjustments Adjustments / Reversals / Refunds related to transfers of a current nature / 950 Current payments Gifts Annual contributions Contributions in respect of social security schemes Contributions in respect of charitable, religious and cultural (excluding research and development) Other donations / aid to Government (excluding research and development) Other donations / aid to private sector (excluding research and development) Pensions Annuities (pension-related) Inheritances Alimony Tax - Income Tax Tax - VAT Refunds Tax - Other / 604 Insurance premiums (non life / short term) Insurance claims (non life / short term) Insurance premiums (life) Insurance claims (life) Migrant worker remittances (excluding compensation) Foreign national contract worker remittances (excluding compensation) BopCUS 3 l 16

20 17 l BopCUS 3

21 E. Transfers of a capital nature Description BoPCUS 3 Sub-Cat BoPCUS 2 Capital transfers and immigrants Transaction adjustments Adjustments / Reversals / Refunds related to capital transfers and immigrants / 950 Capital transfers relating to government / corporate entities (excluding loans) Donations to SA Government for fixed assets Donations to corporate entities - fixed assets Investment into property by a non-resident corporate entity Disinvestment of property by a resident corporate entity Capital transfers by non-resident individuals Investment into property by a non-resident individual Investment by a non-resident individual - other Disinvestment of capital (Note: Categories 511/01 to 511/07 above are preferred to the of categories 514/01 to 514/07 and 515/01 to 515/07, which will be discontinued in future) Disinvestment of capital by a resident individual - Shares Disinvestment of capital by a resident individual - Bonds Disinvestment of capital by a resident individual - Money market instruments Disinvestment of capital by a resident individual - Deposits with a foreign bank Disinvestment of capital by a resident individual - Mutual funds / collective investment schemes Disinvestment of capital by a resident individual - Property Disinvestment of capital by a resident individual - Other BopCUS 3 l 18

22 Description BoPCUS 3 Sub-Cat BoPCUS 2 Disinvestment of capital to a resident Foreign Currency Account (Note: Categories 511/01 to 511/07 above are preferred to the use of categories 514/01 to 514/07, which will be discontinued in future) Disinvestment of capital by a resident individual in respect of cross-border flows originating from a foreign source into a foreign currency account held at an Authorised Dealer in South Africa - Shares Disinvestment of capital by a resident individual in respect of cross-border flows originating from a foreign source into a foreign currency account held at an Authorised Dealer in South Africa - Bonds Disinvestment of capital by a resident individual in respect of cross-border flows originating from a foreign source into a foreign currency account held at an Authorised Dealer in South Africa - Money Market Instruments Disinvestment of capital by a resident individual in respect of cross-border flows originating from a foreign source into a foreign currency account held at an Authorised Dealer in South Africa - Withdrawal from a foreign bank account Disinvestment of capital by a resident individual in respect of cross-border flows originating from a foreign source into a foreign currency account held at an Authorised Dealer in South Africa - Mutual funds / collective investment schemes Disinvestment of capital by a resident individual in respect of cross-border flows originating from a foreign source into a foreign currency account held at an Authorised Dealer in South Africa - Property Disinvestment of capital by a resident individual in respect of cross-border flows originating from a foreign source into a foreign currency account held at an Authorised Dealer in South Africa - Other Disinvestment of capital (Note: Categories 511/01 to 511/07 above are preferred to the of use categories 514/01 to 514/07 and 515/01 to 515/07, which will be discontinued in future) Disinvestment of capital repatriated in respect of an individual investment - Shares Disinvestment of capital repatriated in respect of an individual investment - Bonds Disinvestment of capital repatriated in respect of an individual investment - Money market Instruments Disinvestment of capital repatriated in respect of an individual investment - Deposits with a foreign bank l BopCUS 3

23 Description BoPCUS 3 Sub-Cat BoPCUS 2 Disinvestment of capital repatriated in respect of an individual investment - Mutual funds / collective investment schemes Disinvestment of capital repatriated in respect of an individual investment - Property Disinvestment of capital repatriated in respect of an individual investment - Other Repatriation of capital, on instruction by the Financial Surveillance Department, of a foreign investment by a resident individual in respect of cross-border flows Repatriation of capital, on instruction by the Financial Surveillance Department, of a foreign investment by a resident individual originating from an account conducted in foreign currency held at an Authorised Dealer in South Africa Immigrants Immigration Transaction adjustments Adjustments / Reversals / Refunds related to financial investments / Disinvestments and Prudential investments / 950 Financial investments / disinvestments (excluding local institutional investors) Investment by a non-resident Investment in listed shares by a non-resident Investment in non-listed shares by a non-resident Investment into money market instruments by a non-resident Investment into listed bonds by a non-resident (excluding loans) Investment into non-listed bonds by a non-resident (excluding loans) Disinvestment by a resident corporate entity Disinvestment of shares by a resident - Agricultural, hunting, forestry and fishing Disinvestment of shares by a resident - Mining, quarrying and exploration Disinvestment of shares by a resident - Manufacturing BopCUS 3 l 20

24 Description BoPCUS 3 Sub-Cat BoPCUS 2 Disinvestment of shares by a resident - Electricity, gas and water supply Disinvestment of shares by a resident - Construction Disinvestment of shares by a resident - Wholesale, retail, repairs, hotel and restaurants Disinvestment of shares by a resident - Transport and communication Disinvestment of shares by a resident - Financial services Disinvestment of shares by a resident - Community, social and personal services Inward listed investments Inward listed securities equity individual buy back Inward listed securities equity corporate buy back Inward listed securities equity bank buy back Inward listed securities equity institution buy back Inward listed securities debt individual redemption Inward listed securities debt corporate redemption Inward listed securities debt bank redemption Inward listed securities debt institution redemption Inward listed securities derivatives individual proceeds Inward listed securities derivatives corporate proceeds Inward listed securities derivatives bank proceeds Inward listed securities derivatives institution proceeds Prudential investments (Institutional Investors and Banks) Disinvestment by resident institutional investor - Asset Manager Disinvestment by resident institutional investor - Collective Investment Scheme Disinvestment by resident institutional investor - Retirement Fund l BopCUS 3

25 Description BoPCUS 3 Sub-Cat BoPCUS 2 Disinvestment by resident institutional investor - Life Linked Disinvestment by resident institutional investor - Life Non-Linked Bank prudential disinvestment Not allocated 617 Not allocated 618 Derivatives Transaction adjustments Adjustments / Reversals / Refunds related to derivatives / 950 Derivatives (excluding inward listed) Options - listed Options - unlisted Futures - listed Futures - unlisted Warrants - listed Warrants - unlisted Gold hedging - listed Gold hedging - unlisted Derivative not specified above - listed / 804 / 805 / 806 / 901 Derivative not specified above - unlisted / 804 / 805 / 806 / 901 BopCUS 3 l 22

26 23 l BopCUS 3

27 F. Loan and miscellaneous payments Description BoPCUS 3 Sub-Cat BoPCUS 2 Loans (Capital portion) Loans granted to residents Trade finance loan drawn down in South Africa International Bond drawn down Loan made to a resident by a non-resident shareholder Loan made to a resident by a non-resident third party Loans repaid by residents temporarily abroad Repayment by a resident temporarily abroad of a loan granted by a resident / 901 / 998 Loans repaid by non-residents Repayment of individual loan to a resident Repayment of a study loan to a resident / 998 Repayment of a shareholders loan to a resident Repayment of a third party loan to a resident (excluding shareholders) Repayment of a trade finance loan to a resident Miscellaneous payments Details of payments not classified Rand drafts/cheques drawn on vostro accounts (Only applicable if no description is available) Credit/Debit card company settlement as well as money remitter settlements BopCUS 3 l 24

28 Index I Outflow pg A Merchandise Transaction adjustments 27 Imports: Advance payments not in terms of import undertaking 27 Imports: Advance payments in terms of import undertaking 27 Imports: Excluding advance payments and not in terms of import undertaking 28 Imports: Excluding advance payments but in terms of import undertaking 28 Imports: Other 29 B Intellectual property and other services Transaction adjustments 30 Charges for the use of intellectual property 30 Acquisition of intellectual property (excluding computer related and audiovisual) Research and development 30 Audiovisual and related items 30 Computer software and related items 31 Technical related services 31 Travel services for non-residents 31 Travel services for residents 31 Travel services in respect of third parties 32 Telecommunication and information services 32 Transportation services 32 Financial services obtained 32 Construction service 32 Government services 33 Study related services 33 Other business services C Transactions relating to income and yields on financial assets Transaction adjustments 34 Income payments l BopCus 3

29 D Transfers of a current nature Transaction adjustments 36 Current payments 36 E Transfers of a capital nature Capital transfers and immigrants Transaction adjustments 38 Capital transfers relating to government / corporate entities (excluding loans) Capital transfers by non-resident individuals Capital transfers by South African resident individuals Investment not related to the investment allowance 38 Investment in terms of investment allowance 39 Investment from a resident Foreign Currency Account 40 Re-transfer of capital repatriated 40 Immigrants 40 Financial investments / disinvestments and prudential investments Transaction adjustments 41 Disinvestment by a non-resident 41 Investment by a resident corporate entity 41 Inward listed investments 42 Prudential investments (Institutional Investors and Banks) 42 Derivatives Transaction adjustments 43 Derivatives (excluding inward listed) 43 F Loan and miscellaneous payments Transaction adjustments 44 Loans (capital portion) 44 Loan repayments by residents 44 Loans granted to residents temporarily abroad 44 Loans granted to non-residents 44 Miscellaneous payments 44 BopCus 3 l 26

30 Outflow. A. Merchandise Description BoPCUS 3 Sub-Cat BoPCUS 2 Transaction adjustments Adjustments / Reversals / Refunds applicable to merchandise / 950 Imports: Advance payments (not in terms of import undertaking) Import advance payment (excluding capital goods, gold, platinum, crude oil, refined petroleum products, diamonds, steel, coal, iron ore and goods imported via the South African Post Office) Import advance payment - capital goods Import advance payment - gold Import advance payment - platinum Import advance payment - crude oil Import advance payment - refined petroleum products Import advance payment - diamonds Import advance payment - steel Import advance payment - coal Import advance payment - iron ore Import advance payment - goods imported via the South African Post Office Imports: Advance payments (in terms of import undertaking) Import advance payment (excluding capital goods, gold, platinum, crude oil, refined petroleum products, diamonds, steel, coal, iron ore and goods imported via the South African Post Office) Import advance payment - capital goods Import advance payment - gold Import advance payment - platinum Import advance payment - crude oil Import advance payment - refined petroleum products Import advance payment - diamonds Import advance payment - steel Import advance payment - coal l BopCUS 3

31 Description BoPCUS 3 Sub- Cat BoPCUS 2 Import advance payment - iron ore Import advance payment - goods imported via the South African Post Office Imports: Excluding advance payments and not in terms of import undertaking Import payment (excluding capital goods, gold, platinum, crude oil, refined petroleum products, diamonds, steel, coal, iron ore and goods imported via the South African Post Office) / 103 Import payment - capital goods / 103 Import payment - gold Import payment - platinum / 103 Import payment - crude oil / 103 Import payment - refined petroleum products / 103 Import payment - diamonds Import payment - steel / 103 Import payment - coal / 103 Import payment - iron ore / 103 Import payment - goods imported via the South African Post Office Imports: Excluding advance payments but in terms of import undertaking Import payment (excluding capital goods, gold, platinum, crude oil, refined petroleum products, diamonds, steel, coal, iron ore and goods imported via the South African Post Office) / 110 Import payment - capital goods / 110 Import payment - gold Import payment - platinum / 110 Import payment - crude oil / 110 Import payment - refined petroleum products / 110 Import payment - diamonds Import payment - steel / 110 Import payment - coal / 110 Import payment - iron ore / 110 Import payment - goods imported via the South African Post Office / 110 BopCUS 3 l 28

32 Description BoPCUS 3 Sub- Cat BoPCUS 2 Imports: Other Consumables acquired in port Repayment of trade finance for imports Import payments where the customs value of the shipment is less than R500 Import payments where goods were declared as part of passenger baggage and no MRN is available Payments for goods purchased from non-residents in cases where no physical import will take place, excluding gold, platinum, crude oil, refined petroleum products, diamonds, steel, coal and iron ore as well as merchanting transactions Payments for gold purchased from non-residents in cases where no physical import will take place, excluding merchanting transactions Payments for platinum purchased from non-residents in cases where no physical import will take place, excluding merchanting transactions Payments for crude oil purchased from non-residents in cases where no physical import will take place, excluding merchanting transactions Payments for refined petroleum products purchased from non-residents in cases where no physical import will take place, excluding merchanting transactions Payments for diamonds purchases from non-residents in cases where no physical import will take place, excluding merchanting transactions Payments for steel purchased from non-residents in cases where no physical import will take place, excluding merchanting transactions Payments for coal purchased from non-residents in cases where no physical import will take place, excluding merchanting transactions Payments for iron ore purchased from non-residents in cases where no physical import will take place, excluding merchanting transactions / 103 / Merchanting Transaction l BopCUS 3

33 B. Intellectual property and other services Description BoPCUS 3 Sub-Cat BoPCUS 2 Transaction adjustments Adjustments / Reversals / Refunds applicable to intellectual property and service related items / 950 Charges for the use of intellectual property Rights obtained for licences to reproduce and/or distribute / 313 / 605 Rights obtained for using patents and inventions (licencing) / 605 Rights obtained for using patterns and designs (including industrial processes) Rights obtained for using copyrights / 313 / 605 Rights obtained for using franchises and trademarks Acquisition of intellectual property (excluding computer related and audiovisual) Acquisition of patents and inventions / 605 Acquisition of patterns and designs (including industrial processes) / 605 Acquisition of copyrights / 313 / 605 Acquisition of franchises and trademarks / 605 Research and development Payments for research and development services Funding for research and development Audiovisual and related items Acquisition of original manuscripts, sound recordings and films Payment relating to the production of motion pictures, radio and television programs and musical recordings BopCUS 3 l 30

34 Description BoPCUS 3 Sub-Cat BoPCUS 3 Computer software and related items The outright purchasing of ownership rights of software / 112 / 312 / 605 Computer-related services including maintenance, repair and consultancy Commercial purchases of customised software and related licences to use Commercial purchases of non-customised software provided on physical media with right to perpetual (ongoing) use Commercial purchases of non-customised software downloaded or electronically acquired with periodic licence Commercial purchases of non-customised software downloaded or electronically acquired with single payment / 312 / / 102 / 103 / 112 / 113 / / 102 / 103 / 112 / 113 / / / 312 Technical related services Fees for processing - processing done on materials (excluding gold, platinum, crude oil, refined petroleum products, diamonds, steel, coal and iron ore) / 321 Fees for processing - processing done on gold Fees for processing - processing done on platinum Fees for processing - processing done on crude oil Fees for processing - processing done on refined petroleum products Fees for processing - processing done on diamonds Fees for processing - processing done on steel Fees for processing - processing done on coal Fees for processing - processing done on iron ore Repairs and maintenance on machinery and equipment Architectural, engineering and other technical services Agricultural, mining, waste treatment and depollution services Travel services for non-residents Travel services for non-residents - business travel Travel services for non-residents - holiday travel Travel services for residents Travel services for residents - business travel Travel services for residents - holiday travel l BopCUS 3

35 Description BoPCUS 3 Sub-Cat BoPCUS 3 Travel services in respect of third parties Payment for travel services in respect of third parties - business travel Payment for travel services in respect of third parties - holiday travel Telecommunication and information services Payment for telecommunication-services Payment for information services including data, news related and news agency fees / 314 Transportation services Payment for passenger services - road Payment for passenger services - rail Payment for passenger services - sea Payment for passenger services - air Payment for freight services - road Payment for freight services - rail Payment for freight services - sea Payment for freight services - air Payment for other transport services - road / 308 Payment for other transport services - rail / 308 Payment for other transport services - sea / 308 Payment for other transport services - air / 308 Payment for postal and courier services - road Payment for postal and courier services - rail Payment for postal and courier services - sea Payment for postal and courier services - air Financial services obtained Commission and fees Financial service fees charged for advice provided Construction services Payment for construction services BopCUS 3 l 32

36 Description BoPCUS 3 Sub-Cat BoPCUS 2 Government services Payment for government services / 901 Diplomatic transfers Study related services Tuition fees Other business services obtained Payment for legal services Payment for accounting services Payment for management consulting services Payment for public relation services Payment for advertising and market research services Payment for managerial services Payment for medical and dental services Payment for educational services Operational leasing Payment for cultural and recreational services Payment for other business services not included elsewhere l BopCUS 3

37 C. Transactions relating to income and yields on financial assets Description BoPCUS 3 Sub-Cat BoPCUS 2 Transaction adjustments Adjustments / Reversals / Refunds related to income and yields on financial assets / 950 Income payments Dividends Branch profits Compensation paid by a resident to a resident employee temporarily abroad (excluding remittances) Compensation paid by a resident to a non-resident employee (excluding remittances) Compensation paid by a resident to a migrant worker employee (excluding remittances) Compensation paid by a resident to a foreign national contract worker employee (excluding remittances) Commission or brokerage Rental Interest paid to a non-resident in respect of shareholders loans Interest paid to a non-resident in respect of third party loans Interest paid to a non-resident in respect of trade finance loans Interest paid to a non-resident in respect of a bond Interest paid not in respect of loans Fee in respect of inward listed securities derivatives individual Fee in respect of inward listed securities derivatives corporate Fee in respect of inward listed securities derivatives bank Fee in respect of inward listed securities derivatives institution BopCUS 3 l 34

38 35 l BopCUS 3

39 D. Transfers of a current nature Description BoPCUS 3 Sub-Cat BoPCUS 2 Transaction adjustments Adjustments / Reversals / Refunds related to transfers of a current nature / 950 Current payments Gifts Annual contributions Contributions in respect of social security schemes Contributions in respect of foreign charitable, religious and cultural (excluding research and development) Other donations / aid to a foreign Government (excluding research and development) Other donations / aid to a foreign private sector (excluding research and development) Pensions Annuities (pension related) Inheritances Alimony Tax - Income Tax Tax - VAT Refunds Tax - Other / 604 Insurance premiums (non life / short term) Insurance claims (non life / short term) Insurance premiums (life) Insurance claims (life) Migrant worker remittances (excluding compensation) Foreign national contract worker remittances (excluding compensation) BopCUS 3 l 36

40 37 l BopCUS 3

41 E. Transfers of a capital nature Description BoPCUS 3 Sub-Cat BoPCUS 2 Capital transfers and emigrants Transaction adjustments Adjustments / Reversals / Refunds related to capital transfers and emigrants / 950 Capital transfers relating to government / corporate entities (excluding loans) Donations by SA Government fixed assets Donations by corporate entities fixed assets Disinvestment of property by a non-resident corporate entity Investment into property by a resident corporate entity Capital transfers by non-resident individuals Disinvestment of property by a non-resident individual Disinvestment by a non-resident individual - other Capital transfers by South African resident individuals Investment not related to the investment allowance (Note: Categories 511/01 to 511/07 are preferred to the use of categories 514/01 to 514/07 and 515/01 to 515/07, which will be discontinued in future) Investment by a resident individual not related to the investment allowance - Shares Investment by a resident individual not related to the investment allowance - Bonds Investment by a resident individual not related to the investment allowance - Money market instruments Investment by a resident individual not related to the investment allowance - Deposits with a foreign bank Investment by a resident individual not related to the investment allowance - Mutual funds / collective investment schemes Investment by a resident individual not related to the investment allowance - Property Investment by a resident individual not related to the investment allowance - Other BopCUS 3 l 38

42 Description BoPCUS 3 Sub-Cat BoPCUS 2 Investment in terms of investment allowance Foreign investment by a resident individual in respect of the investment allowance - Shares Foreign investment by a resident individual in respect of the investment allowance - Bonds Foreign investment by a resident individual in respect of the investment allowance - Money market instruments Foreign investment by a resident individual in respect of the investment allowance - Deposits with a foreign bank Foreign investment by a resident individual in respect of the investment allowance - Mutual funds / collective investment schemes Foreign investment by a resident individual in respect of the investment allowance - Property Foreign investment by a resident individual in respect of the investment allowance - Other Investment by a resident individual originating from a local source into an account conducted in foreign currency held at an Authorised Dealer in South Africa Investment from a resident Foreign Currency Account (Note: Categories 511/01 to 511/07 are preferred to the use of categories 514/01 to 514/07 and 515/01 to 515/07, which will be discontinued in future) Foreign investment by a resident individual in respect of crossborder flows originating from a foreign currency account held at an Authorised Dealer in South Africa - Shares Foreign investment by a resident individual in respect of crossborder flows originating from a foreign currency account held at an Authorised Dealer in South Africa - Bonds Foreign investment by a resident individual in respect of crossborder flows originating from a foreign currency account held at an Authorised Dealer in South Africa - Money market instruments Foreign investment by a resident individual in respect of crossborder flows originating from a foreign currency account held at an Authorised Dealer in South Africa - Deposit into a foreign bank account Foreign investment by a resident individual in respect of crossborder flows originating from a foreign currency account held at an Authorised Dealer in South Africa - Mutual funds / collective investment schemes Foreign investment by a resident individual in respect of crossborder flows originating from a foreign currency account held at an Authorised Dealer in South Africa - Property l BopCUS 3

News FINANCIAL SURVEILLANCE BALANCE OF PAYMENTS (BOP) CATEGORIES

News FINANCIAL SURVEILLANCE BALANCE OF PAYMENTS (BOP) CATEGORIES News GLOBAL TRADE FINANCIAL SURVEILLANCE BALANCE OF PAYMENTS (BOP) CATEGORIES The South African Reserve Bank (SARB) has introduced new BOP categories and sub-categories, effective 19 August 2013. The guide

More information

Balance of payment (BOP) reporting: Upcoming regulatory change June 2013

Balance of payment (BOP) reporting: Upcoming regulatory change June 2013 Balance of payment (BOP) reporting: Upcoming regulatory change June 2013 Background Balance of payments data is an important part of national and international policy formulation. This data is used for

More information

Please refer to the category description to assist you in determining the main category to be used for your transaction type.

Please refer to the category description to assist you in determining the main category to be used for your transaction type. BOP category description aid Outward Please refer to the category description to assist you in determining the main category to be used for your transaction type. Main description Category description

More information

BoP Codes Outward Forex Transactions

BoP Codes Outward Forex Transactions s All cross-border transactions must be reported to the South African Reserve Bank in accordance with SARB Regulations. Balance of Payments Reporting ( Reporting for short) is an electronic message system

More information

List of Purpose Code of Payment

List of Purpose Code of Payment List of Purpose Code of Payment Gr. No Purpose Group Name Purpose Code Description S0017 Acquisition of non-produced non-financial assets (Purchase of intangible assets like patents, copyrights, trademarks

More information

FORM - A 2 (To be completed by the applicant)

FORM - A 2 (To be completed by the applicant) Annex-1 FORM - A 2 (To be completed by the applicant) FORM A2 (For payments other than imports and remittances covering intermediary trade) Application for Remittance Abroad AD Code No. Form No. (To be

More information

Annex. I/We (Name of applicant remitter) PAN No. (For remittances exceeding USD 25,000 and for all capital account transactions) Address

Annex. I/We (Name of applicant remitter) PAN No. (For remittances exceeding USD 25,000 and for all capital account transactions) Address FORM A2 (To be completed by the applicant) FORM A2 (For payments other than imports and remittances covering intermediary trade) Annex AD Form (To be filled in by the Authorised Dealer) Currency Amount

More information

RESERVE BANK OF INDIA PAYMENT CODES

RESERVE BANK OF INDIA PAYMENT CODES Below is the list of Payment Codes required for payments to India exceeding 100,000INR (or 1800 USD equivalent). To give you a sense of the reporting that local banks in India are required to make, if

More information

NEW PURPOSE CODES FOR REPORTING FOREX TRANSACTIONS RECEIPT PURPOSES. Purpose Code

NEW PURPOSE CODES FOR REPORTING FOREX TRANSACTIONS RECEIPT PURPOSES. Purpose Code Annexure II NEW PURPOSE CODES FOR REPORTING FOREX TRANSACTIONS RECEIPT PURPOSES Group Group 00 Capital Account.P0001 Repatriation of Indian investment abroad in equity capital (shares) P0002 Repatriation

More information

RESERVE BANK OF INDIA Foreign Exchange Department Central Office Mumbai - 400 001. RBI/2012-13/129 A.P. (DIR Series) Circular No.

RESERVE BANK OF INDIA Foreign Exchange Department Central Office Mumbai - 400 001. RBI/2012-13/129 A.P. (DIR Series) Circular No. RESERVE BANK OF INDIA Foreign Exchange Department Central Office Mumbai - 400 001 RBI/2012-13/129 A.P. (DIR Series) Circular No. 5 July 12, 2012 To Madam/ Sirs, All Authorised Dealers in Foreign Exchange

More information

A N N E X E 2 : La correspondance entre les nomenclatures d activités et de produits et de balance des paiements

A N N E X E 2 : La correspondance entre les nomenclatures d activités et de produits et de balance des paiements A N N E X E 2 : La correspondance entre les nomenclatures d activités et de produits et de balance des paiements Nomenclature BOP ICFA/ISIC Code Intitulé Code Intitulé 205 Transportation 60-63 Transport

More information

ANNEX 1 NOMENCLATURE Art. 1. Foreign currency operations Art. 2. Current foreign currency operations

ANNEX 1 NOMENCLATURE Art. 1. Foreign currency operations Art. 2. Current foreign currency operations ANNEX 1 NOMENCLATURE In this nomenclature foreign currency operations are classified according to the economic nature of assets and liabilities they concern denominated either in domestic currency (leu)

More information

The balance of payments for non-specialists

The balance of payments for non-specialists 1/9. The balance of payments for non-specialists April 2016 1. General Belgium has a very open economy. It is therefore vital to provide an overview of all transactions with other countries. The balance

More information

All transactions, not specified above, require prior approval from the Financial Surveillance Department.

All transactions, not specified above, require prior approval from the Financial Surveillance Department. NON-RESIDENT ACCOUNTS, CUSTOMER FOREIGN CURRENCY ACCOUNTS, FOREIGN CURRENCY ACCOUNTS AND FOREIGN BANK ACCOUNTS (A) NON-RESIDENT ACCOUNTS Transactions over Non-Resident Accounts Rand accounts opened by

More information

Contents. Purpose of Remittance Transaction codes PUBLIC

Contents. Purpose of Remittance Transaction codes PUBLIC Purpose of Remittance Transaction codes In compliance with Banko Sentral ng Pilipinas (BSP) Circular No. 194, foreign currency transfers must have a corresponding transaction code. The transaction codes

More information

C. Historical background

C. Historical background C. Historical background Exchange control in the form of the Emergency Finance Regulations was first introduced in South Africa at the outbreak of the Second World War in 1939. The Regulations were at

More information

AFFECTED PERSON means a body corporate, foundation, trust or partnership operating in the Republic, or an estate, in respect of which:

AFFECTED PERSON means a body corporate, foundation, trust or partnership operating in the Republic, or an estate, in respect of which: A. Definitions ADLA means an Authorised Dealer in foreign exchange with limited authority, which include Bureaux de Change, who are authorised by the Treasury to deal in foreign exchange for the sole purpose

More information

BANK OF PAPUA NEW GUINEA FOREIGN EXCHANGE MANUAL FOR AUTHORISED DEALER AND PUBLIC USE

BANK OF PAPUA NEW GUINEA FOREIGN EXCHANGE MANUAL FOR AUTHORISED DEALER AND PUBLIC USE BANK OF PAPUA NEW GUINEA FOREIGN EXCHANGE MANUAL FOR AUTHORISED DEALER AND PUBLIC USE ISSUED: SEPTEMBER 2007 - 2 - CENTRAL BANKING ACT 2000 CENTRAL BANKING (FOREIGN EXCHANGE AND GOLD) REGULATION NOTICES

More information

BPM5-to-BPM6 Conversion Matrix

BPM5-to-BPM6 Conversion Matrix BOPCOM-08/10B Twenty-First Meeting of the IMF Committee on Balance of Payments Statistics Washington D.C, BPM5-to-BPM6 Conversion Matrix Also, Annex A to BOPCOM-08/10A: BPM6 Implementation Plan, and Plans

More information

In 2012, GNP in constant prices increased by 1.8% compared with 2011.

In 2012, GNP in constant prices increased by 1.8% compared with 2011. 8 Economy In 2012, GNP in constant prices increased by 1.8% compared with 2011. The building and construction sector fell by 7.7% in value added terms in 2012 compared to 2011. Manufacturing industry decreased

More information

Australia s Trade in Services with Singapore

Australia s Trade in Services with Singapore - 1 - Australia s Trade in Services with Singapore Singapore was Australia s fourth largest two-way trade in services partner in 212. Australia s two-way trade in services with Singapore was valued at

More information

Request for Outward Remittance from NRO account

Request for Outward Remittance from NRO account FOR BRANCH USE: Branch Code: Receipt Date: / / Action Taken on: / / Signature Request for Outward Remittance from NRO account NRI-11.1 I / We request you to debit my / our

More information

3. What economic transactions are engaged in by residents of a country with non-residents?

3. What economic transactions are engaged in by residents of a country with non-residents? 1. What is the Balance of Payments (BOP)? The Balance of Payments (BOP) is a summary of the economic transactions of a country with the rest of the world for a specific period. It serves as an accounting

More information

Cash Flow Statements

Cash Flow Statements STATUTORY BOARD FINANCIAL SB-FRS 7 REPORTING STANDARD Cash Flow Statements SB-FRS 7 Cash Flow Statements applies to Statutory Boards for annual periods beginning on or after 1 January 2009. This Standard

More information

Indian Accounting Standard (Ind AS) 7 Statement of Cash Flows

Indian Accounting Standard (Ind AS) 7 Statement of Cash Flows Contents Indian Accounting Standard (Ind AS) 7 Statement of Cash Flows Paragraphs OBJECTIVE SCOPE 1 3 BENEFITS OF CASH FLOW INFORMATION 4 5 DEFINITIONS 6 9 Cash and cash equivalents 7 9 PRESENTATION OF

More information

BOP Quarterly Statistical Compilation Methodology (updated June 2014)

BOP Quarterly Statistical Compilation Methodology (updated June 2014) BOP Quarterly Statistical Compilation Methodology (updated June 2014) Introduction Ireland s balance of payments (BOP) quarterly statistical compilation system was completely overhauled in the late 1990s

More information

Balance of Payments Methodology. I. General

Balance of Payments Methodology. I. General Balance of Payments Methodology I. General The DNCI (Dirección Nacional de Cuentas Internacionales) is responsible for compiling Argentina s balance of payments statistics. These data are published quarterly

More information

PAYMENT PURPOSE CODES BY COUNTRY. United Arab Emirates Purpose Codes THEN SELECT THIS PAYMENT IF THE PAYMENT GROUP

PAYMENT PURPOSE CODES BY COUNTRY. United Arab Emirates Purpose Codes THEN SELECT THIS PAYMENT IF THE PAYMENT GROUP PAYMENT PURPOSE CODES BY COUNTRY United Arab Emirates Purpose Codes Payments AND YOUR PAYMENT PURPOSE DESCRIPTION IS Agency Commission Advance payment against EOS Allowances Bonus Cross Border Payments

More information

Economic Indicators -- United Arab Emirates

Economic Indicators -- United Arab Emirates Economic Indicators -- United Arab Emirates United Arab Emirates Middle East & North Africa Gross Domestic Product, 2000 World GDP in million constant 1995 US dollars X 826,705 34,109,900 GDP PPP (million

More information

Russian Rouble payment requirements.

Russian Rouble payment requirements. Russian Rouble payment requirements. When making payments in Russian Roubles (RUB) there are requirements, set by the Russian Central Bank, to include identifying codes on certain payments An INN code

More information

Sri Lanka Accounting Standard-LKAS 7. Statement of Cash Flows

Sri Lanka Accounting Standard-LKAS 7. Statement of Cash Flows Sri Lanka Accounting Standard-LKAS 7 Statement of Cash Flows CONTENTS SRI LANKA ACCOUNTING STANDARD-LKAS 7 STATEMENT OF CASH FLOWS paragraphs OBJECTIVE SCOPE 1 3 BENEFITS OF CASH FLOW INFORMATION 4 5 DEFINITIONS

More information

Direct Investment Concepts

Direct Investment Concepts 76 Direct Investment Concepts In this section: Basic concepts and definitions Direct investment Direct investor Affiliates Exclusions U.S. direct investment abroad (USDIA) U.S. parent U.S. direct investment

More information

Secondary Income and the Capital Account (L12)

Secondary Income and the Capital Account (L12) Secondary Income and the Capital Account (L12) Course on External Sector Statistics Nay Pyi Taw, Myanmar January 19-23, 2015 Reproductions of this material, or any parts of it, should refer to the as the

More information

GUIDELINES FOR RESPONDING TO THE GFSM 2014 ANNUAL GFS QUESTIONNAIRE

GUIDELINES FOR RESPONDING TO THE GFSM 2014 ANNUAL GFS QUESTIONNAIRE GFSY 2014 data request letter Table 1. of Revenue 1 Revenue 11 Taxes GUIDELINES FOR RESPONDING TO THE GFSM 2014 ANNUAL GFS QUESTIONNAIRE Overview of Changes in the GFSM 2014 classification system 111 Taxes

More information

THE CENTRAL BANK OF SWAZILAND A SIMPLE GUIDE TO EXCHANGE CONTROL IN SWAZILAND ISSUED BY CENTRAL BANK OF SWAZILAND FOR GENERAL INFORMATION

THE CENTRAL BANK OF SWAZILAND A SIMPLE GUIDE TO EXCHANGE CONTROL IN SWAZILAND ISSUED BY CENTRAL BANK OF SWAZILAND FOR GENERAL INFORMATION THE CENTRAL BANK OF SWAZILAND A SIMPLE GUIDE TO EXCHANGE CONTROL IN SWAZILAND ISSUED BY CENTRAL BANK OF SWAZILAND FOR GENERAL INFORMATION Revised February 2005 TABLE OF CONTENTS Page Mission Statement...

More information

Pursuant to Article 88 item 2 of the Constitution of the Republic of Montenegro I hereby issue the

Pursuant to Article 88 item 2 of the Constitution of the Republic of Montenegro I hereby issue the Pursuant to Article 88 item 2 of the Constitution of the Republic of Montenegro I hereby issue the DECREE PROMULGATING THE LAW ON FOREIGN CURRENT AND CAPITAL TRANSACTIONS (Official Gazette of Montenegro

More information

Statement of Cash Flows

Statement of Cash Flows STATUTORY BOARD FINANCIAL REPORTING STANDARD SB-FRS 7 Statement of Cash Flows This version of SB-FRS 7 does not include amendments that are effective for annual periods beginning after 1 January 2014.

More information

L A W ОN FOREIGN EXCHANGE OPERATIONS

L A W ОN FOREIGN EXCHANGE OPERATIONS L A W ОN FOREIGN EXCHANGE OPERATIONS This Law shall govern: I GENERAL PROVISIONS Article 1 1) payments, collections and transfers between residents and nonresidents in foreign means of payment and dinars;

More information

Measuring the International Supply of Services by GATS Modes

Measuring the International Supply of Services by GATS Modes Measuring the International Supply of Services by GATS Modes Beijing, China, 24 October 2011 WTO statistics@wto.org Measuring the International Supply of Services by GATS Modes Background and information

More information

Statement of Cash Flows

Statement of Cash Flows HKAS 7 Revised February November 2014 Hong Kong Accounting Standard 7 Statement of Cash Flows HKAS 7 COPYRIGHT Copyright 2014 Hong Kong Institute of Certified Public Accountants This Hong Kong Financial

More information

International Accounting Standard 7 Statement of cash flows *

International Accounting Standard 7 Statement of cash flows * International Accounting Standard 7 Statement of cash flows * Objective Information about the cash flows of an entity is useful in providing users of financial statements with a basis to assess the ability

More information

NEPAL ACCOUNTING STANDARDS ON CASH FLOW STATEMENTS

NEPAL ACCOUNTING STANDARDS ON CASH FLOW STATEMENTS NAS 03 NEPAL ACCOUNTING STANDARDS ON CASH FLOW STATEMENTS CONTENTS Paragraphs OBJECTIVE SCOPE 1-3 BENEFITS OF CASH FLOWS INFORMATION 4-5 DEFINITIONS 6-9 Cash and cash equivalents 7-9 PRESENTATION OF A

More information

TERHAD. Training to Labuan Offshore Entities on Compilation of International Investment Position (IIP) Report

TERHAD. Training to Labuan Offshore Entities on Compilation of International Investment Position (IIP) Report TERHAD Training to Labuan Offshore Entities on Compilation of International Investment (IIP) Report September 2012 TERHAD 1. Equity Capital: A/L Definition Form DIa Exposures with Affiliated Enterprises

More information

North Bay Industry Sector Rankings (By County) October 2015 Jim Cassio

North Bay Industry Sector Rankings (By County) October 2015 Jim Cassio North Bay Rankings (By County) October 2015 Jim Cassio North Bay Rankings (By County) Source: EMSI (Economic Modeling Specialists, Intl.) Contents Lake County... 3 Jobs... 3 Job Growth (Projected)...

More information

LIST OF CODES FOR FOREIGN EXCHANGE AND OTHER TRANSACTIONS BY NON-RESIDENTS AND RESIDENTS (VO CODES)

LIST OF CODES FOR FOREIGN EXCHANGE AND OTHER TRANSACTIONS BY NON-RESIDENTS AND RESIDENTS (VO CODES) TRANSACTIONS BY NON-RESIDENTS AND RESIDENTS (S) 01 FX transactions by Residents in the non-cash form 01 010 Selling by Residents of foreign currencies for Russian Roubles 01 030 Purchases by Residents

More information

Press release. Communications. P.O. Box, CH-8022 Zurich Telephone +41 44 631 31 11 communications@snb.ch. Zurich, 23 June 2014

Press release. Communications. P.O. Box, CH-8022 Zurich Telephone +41 44 631 31 11 communications@snb.ch. Zurich, 23 June 2014 Communications P.O. Box, CH-8022 Zurich Telephone +41 44 631 31 11 communications@snb.ch Zurich, 23 June 2014 Balance of payments and international investment position in Q1 2014 Change to new IMF standard

More information

1 Regional Bank Regional banks specialize in consumer and commercial products within one region of a country, such as a state or within a group of states. A regional bank is smaller than a bank that operates

More information

Cash Flow Statements

Cash Flow Statements Compiled Accounting Standard AASB 107 Cash Flow Statements This compiled Standard applies to annual reporting periods beginning on or after 1 July 2007. Early application is permitted. It incorporates

More information

Foreign Affiliates Statistics

Foreign Affiliates Statistics SADC Workshop on Statistics of International Trade in Services Foreign Affiliates Statistics Gaborone, Botswana 28-31 January 2014 1 Foreign Affiliates Statistics (FATS) FATS Usefulness and definition

More information

Mitchells & Butlers plc Accounting policies under IFRS

Mitchells & Butlers plc Accounting policies under IFRS Mitchells & Butlers plc Accounting policies under IFRS 7 December 2005 Background With effect from 2 October 2005, Mitchells & Butlers plc ( the Group ) is required to prepare its consolidated financial

More information

2.3 Payments of a business nature

2.3 Payments of a business nature 2.3 Payments of a business nature 2.3.1 Remittance of dividends, profits and income from the RSA Requirements for quoted companies For a non-resident shareholder (a foreign company, entity or person that

More information

VERMONT UNEMPLOYMENT INSURANCE WAGES, BENEFITS, CONTRIBUTIONS AND EMPLOYMENT BY INDUSTRY CALENDAR YEAR 2014

VERMONT UNEMPLOYMENT INSURANCE WAGES, BENEFITS, CONTRIBUTIONS AND EMPLOYMENT BY INDUSTRY CALENDAR YEAR 2014 WAGES, BENEFITS, CONTRIBUTIONS AND EMPLOYMENT BY INDUSTRY Vermont Department of Labor VERMONT UNEMPLOYMENT INSURANCE PROGRAM WAGES, BENEFITS, CONTRIBUTIONS AND EMPLOYMENT BY INDUSTRY Visit us at our web

More information

Indicators Related to Asset Management (General Account)

Indicators Related to Asset Management (General Account) Indicators Related to Asset Management (General Account) (1) Portfolio Trends Asset Structure, Increase/Decrease in Assets Cash, deposits and call loans Receivables under resale agreements Receivables

More information

LIST of Currency and Other Operations Performed by Residents and Non-Residents

LIST of Currency and Other Operations Performed by Residents and Non-Residents Annex 2 To Instruction of the Bank of Russia No.138-I as of 04 June 2012 On procedure for residents and non-residents to provide authorised banks with documentation and information concerning currency

More information

2015 NEVADA TAX REFORMS. Commerce Tax, Modified Business Tax, Business License Fee

2015 NEVADA TAX REFORMS. Commerce Tax, Modified Business Tax, Business License Fee Joshua J. Hicks Attorney at Law 775.622.9450 tel 775.622.9554 fax jhicks@bhfs.com 2015 NEVADA TAX REFORMS Commerce Tax, Modified Business Tax, Business License Fee Current as of June 10, 2015 A. Commerce

More information

Appendix B Standard Industrial Classification of all Economic Activities

Appendix B Standard Industrial Classification of all Economic Activities Appendix B Standard Industrial Classification of all Economic Activities An institutional unit (an enterprise such as a company) may be engaged in different kinds of production activities in different

More information

Flow of Funds Accounts of the United States

Flow of Funds Accounts of the United States June 5, 2008 Flow of Funds Accounts of the United States Annual Flows and Outstandings 2005-2007 Board of Governors of the Federal Reserve System, Washington D.C. 20551 Table of Contents Flows Levels Title

More information

FEDERAL LAW No. 173-FZ OF THE RUSSIAN FEDERATION OF DECEMBER 10, Concerning Currency Regulation and Currency Control

FEDERAL LAW No. 173-FZ OF THE RUSSIAN FEDERATION OF DECEMBER 10, Concerning Currency Regulation and Currency Control FEDERAL LAW No. 173-FZ OF THE RUSSIAN FEDERATION OF DECEMBER 10, 2003 Concerning Currency Regulation and Currency Control Adopted by the State Duma on November 21, 2003 Approved by the Federation Council

More information

Bank of Zambia. Bank of Zambia Balance of Payments Monitoring Guide (2013)

Bank of Zambia. Bank of Zambia Balance of Payments Monitoring Guide (2013) Bank of Zambia Bank of Zambia Balance of Payments Monitoring Guide (2013) Bank of Zambia Balance of Payments Monitoring Guide (2013) Document Information AUTHOR VERSION 3.00 PROJECT Bank of Zambia Balance

More information

Notes for foreign currency payments at HSBC

Notes for foreign currency payments at HSBC Notes for foreign currency payments at HSBC There are some foreign currencies that require on the part of HSBC specific indications to process payment orders Currently, this applies to the following currencies:

More information

EXCHANGE CONTROL IN FIJI

EXCHANGE CONTROL IN FIJI [A] EXCHANGE CONTROL IN FIJI INTRODUCTION Exchange Control encompasses Government s regulations with regard to the buying and selling of foreign currency and related transactions between Fiji and the rest

More information

Glossary. U.S. International Economic Accounts Glossary of Terms. Term

Glossary. U.S. International Economic Accounts Glossary of Terms. Term Glossary U.S. International Economic Accounts Glossary of s Accrual accounting Activities of multinational enterprises (AMNE) Affiliate Affiliated trade Asset/liability principle Associate Balance of payments

More information

- 27 - 11. FE Notice 11 Foreign Currency Accounts and Kina Accounts of Residents and Non-residents

- 27 - 11. FE Notice 11 Foreign Currency Accounts and Kina Accounts of Residents and Non-residents - 27-11. FE Notice 11 Foreign Currency Accounts and Kina Accounts of Residents and Non-residents 11.1 Introduction In respect of all Foreign Currency accounts held with Authorised Dealers by Residents

More information

RULES ON THE CHART OF ACCOUNTS AND THE CONTENTS OF ACCOUNTS IN THE CHART OF ACCOUNTS FOR BANKS

RULES ON THE CHART OF ACCOUNTS AND THE CONTENTS OF ACCOUNTS IN THE CHART OF ACCOUNTS FOR BANKS Outsourced translation Official Gazette of RS, Nos 98/2007, 57/2008 and 3/2009 Pursuant to Article 15, paragraph 2, item 2 of the Accounting and Auditing Law (Official Gazette of RS, No. 46/2006), the

More information

Health Insurance Companies Tab. Monthly cash inflows and outflows of public health insurance companies

Health Insurance Companies Tab. Monthly cash inflows and outflows of public health insurance companies Health Insurance Companies Tab. Monthly cash inflows and outflows of public health insurance companies Coverage: Health insurance companies operating in the field of public health insurance, which are

More information

AS 3 CASH FLOW STATEMENTS. CA Final Course Paper Financial Reporting Chapter 1 Unit 4 CA. B. GANESH

AS 3 CASH FLOW STATEMENTS. CA Final Course Paper Financial Reporting Chapter 1 Unit 4 CA. B. GANESH AS 3 CASH FLOW STATEMENTS CA Final Course Paper Financial Reporting Chapter 1 Unit 4 CA. B. GANESH Contents Applicability Objective Scope Benefits of Cash Flow Information Definitions Cash and Cash Equivalents

More information

LAW ON FOREIGN EXCHANGE OPERATIONS

LAW ON FOREIGN EXCHANGE OPERATIONS LAW ON FOREIGN EXCHANGE OPERATIONS This Law shall govern: (CONSOLIDATED) 1 I. BASIC PROVISIONS Article 1 1) payments, collections and transfers between residents and non-residents in foreign means of payment

More information

WORLD TRADE ORGANIZATION

WORLD TRADE ORGANIZATION WORLD TRADE ORGANIZATION RESTRICTED MTN.GNS/W/120 10 July 1991 (98-0000) Special Distribution SERVICES SECTORAL CLASSIFICATION LIST Note by the Secretariat The secretariat indicated in its informal note

More information

LAW ON FOREIGN CURRENT AND CAPITAL OPERATIONS I BASIC PROVISIONS

LAW ON FOREIGN CURRENT AND CAPITAL OPERATIONS I BASIC PROVISIONS Law on Foreign Current and Capital Operations In accordance with Article 88 Item 2 of the Constitution of the Republic of Montenegro I hereby pass the ENACTMENT ON PROCLAMATION OF THE LAW ON FOREIGN CURRENT

More information

LIST OF CODES FOR FOREIGN EXCHANGE AND OTHER TRANSACTIONS BY NON-RESIDENTS AND RESIDENTS (VO CODES)

LIST OF CODES FOR FOREIGN EXCHANGE AND OTHER TRANSACTIONS BY NON-RESIDENTS AND RESIDENTS (VO CODES) Group Subcode VO Code LIST OF CODES FOR FOREIGN EXCHANGE AND OTHER TRANSACTIONS BY NON-RESIDENTS AND RESIDENTS (VO CODES) Name and description of transaction 01 FX transactions by Residents in the non-cash

More information

IGAS 3. Cash Flow Statements. Government Accounting Standards Advisory Board. Contents

IGAS 3. Cash Flow Statements. Government Accounting Standards Advisory Board. Contents Cash Flow Statements Government Accounting Standards Advisory Board Contents Description Page Number 1. Introduction 3 2. Objective 3 3. Scope 3 4. Benefits of Cash Flow Information 4 5. Definitions 4

More information

PPS TAX FREE INVESTMENT ACCOUNT APPLICATION FORM

PPS TAX FREE INVESTMENT ACCOUNT APPLICATION FORM APPLICATION FORM PROFESSIONAL PROVIDENT SOCIETY INVESTMENTS PROPRIETARY LIMITED ( PPS INVESTMENTS ) CLIENT SERVICE CENTRE CONTACT DETAILS TEL: 0860 468 777 (0860 INV PPS) FAX: 021 680 3680 EMAIL: admin@ppsinvestments.co.za

More information

LAW ON FOREIGN EXCHANGE OPERATIONS

LAW ON FOREIGN EXCHANGE OPERATIONS LAW ON FOREIGN EXCHANGE OPERATIONS This Law shall govern: (Consolidated) 1 I. BASIC PROVISIONS Article 1 1) payments, collections and transfers between residents and non-residents in foreign means of payment

More information

Tax Return Questionnaire - 2013 Tax Year

Tax Return Questionnaire - 2013 Tax Year Print this form out, take some time to fill it out, and bring it with you when you come to the office. This will save you time and money, and help us help you more effectively. Tax Return Questionnaire

More information

3. If you received any interest from a "Seller Financed" mortgage, provide: Name and Address of Payer Social Security Number Amount

3. If you received any interest from a Seller Financed mortgage, provide: Name and Address of Payer Social Security Number Amount Print this form out, take some time to fill it out, and bring it with you when you come to the office. This will save you time and money, and help us help you more effectively. Tax Return Questionnaire

More information

ACCOUNTING STANDARD AASB 107 July Cash Flow Statements. Federal Register of Legislative Instruments F2005B01541

ACCOUNTING STANDARD AASB 107 July Cash Flow Statements. Federal Register of Legislative Instruments F2005B01541 ACCOUNTING STANDARD AASB 107 July 2004 Cash Flow Statements Obtaining a Copy of this Accounting Standard This Standard is available on the AASB website: www.aasb.com.au. Alternatively, printed copies of

More information

INDIVIDUAL TAX RETURN PREPARATION CHECKLIST 2014

INDIVIDUAL TAX RETURN PREPARATION CHECKLIST 2014 The checklist provides a general list of major issues that should be addressed. (The checklist is not designed to be an exhaustive list of all issues that may warrant consideration) CLIENT S NAME RESIDENCY

More information

Paper P6 (ZAF) Advanced Taxation (South Africa) Friday 7 December 2012. Professional Level Options Module

Paper P6 (ZAF) Advanced Taxation (South Africa) Friday 7 December 2012. Professional Level Options Module Professional Level Options Module Advanced Taxation (South Africa) Friday 7 December 2012 Time allowed Reading and planning: Writing: 15 minutes 3 hours This paper is divided into two sections: Section

More information

CURRENT PRACTICES FOR THE COMPILATION OF REMITTANCE STATISTICS IN BELIZE

CURRENT PRACTICES FOR THE COMPILATION OF REMITTANCE STATISTICS IN BELIZE CEMLA SEMINAR FOR THE LAUNCHING OF THE REMITTANCES PROGRAM 1 CURRENT PRACTICES FOR THE COMPILATION OF REMITTANCE STATISTICS IN BELIZE Mexico City, October 13-14, 2005 Azucena Quan Novelo & Emory Ford Central

More information

Direct Investment Compilation Practices, Data Sources and Methodology

Direct Investment Compilation Practices, Data Sources and Methodology This metadata describes the compilation practices, sources and methodology in use in 2003. Please refer to the contact person below for details of any changes that may have been introduced by the country

More information

THE PLATINUM INDUSTRY: THE ENHANCED PLATINUM SECTOR REGIME (EPSR) 27 JANUARY

THE PLATINUM INDUSTRY: THE ENHANCED PLATINUM SECTOR REGIME (EPSR) 27 JANUARY OPERATIONAL MODALITIES FOR SPECIAL FOREIGN CURRENCY ACCOUNTS (FCAs) FOR THE PLATINUM INDUSTRY: THE ENHANCED PLATINUM SECTOR REGIME (EPSR) 27 JANUARY 2005 1. BACKGROUND 1.1 As announced in the Reserve Bank

More information

11 Primary Income Account

11 Primary Income Account CHAPTER 11 Primary Income Account A. Overview of the Primary Income Account Reference: 2008 SNA, Chapter 7, The Distribution of Income Accounts. 11.1 The primary income account shows primary income flows

More information

TYPES OF FINANCIAL SERVICES

TYPES OF FINANCIAL SERVICES TYPES OF FINANCIAL SERVICES Learning Objectives: To understand the classification of financial services on the basis of movement of funds during the activities or otherwise. Chapter 3 Types of Financial

More information

General instruction for filling in information about foreign trade in services

General instruction for filling in information about foreign trade in services Instructions Annual inquiry on foreign trade in services The annual inquiry on foreign trade in services asks for information about your enterprise s exports and imports by service. The inquiry is statutory

More information

GENERAL INFORMATION FORM -- AUTHORIZATION APPLICATION NAICS CODES GENERAL INFORMATION

GENERAL INFORMATION FORM -- AUTHORIZATION APPLICATION NAICS CODES GENERAL INFORMATION GIF CODES COMMONWEALTH OF PENNSYLVANIA DEPARTMENT OF ENVIRONMENTAL PROTECTION GENERAL INFORMATION FORM -- AUTHORIZATION APPLICATION NAICS CODES GENERAL INFORMATION The United States has a new industry

More information

United Kingdom Balance of Payments: The Pink Book, 2015

United Kingdom Balance of Payments: The Pink Book, 2015 United Kingdom Balance of Payments: The Pink Book, 2015 Coverage: UK Date: 30 October 2015 Geographical Area: UK Theme: Economy Main points The deficit on the current account balance widened in 2014 to

More information

Module 6 : Cash Flow. Lecture 1 : Cash Flow Statement

Module 6 : Cash Flow. Lecture 1 : Cash Flow Statement Module 6 : Cash Flow Lecture 1 : Cash Flow Statement Objectives In this lecture you will learn the following Introduction Cash Flow Statement. Meaning. Applicability. Cash and Cash equivalents. Meaning

More information

EXCHANGE CONTROL IN SAMOA August 2015 D. TABLE: EXCHANGE CONTROL POLICY GUIDELINES...13-16

EXCHANGE CONTROL IN SAMOA August 2015 D. TABLE: EXCHANGE CONTROL POLICY GUIDELINES...13-16 TABLE OF CONTENTS A. INTRODUCTION... 2 B. DETERMINATION OF RESIDENCY...5 C. GENERAL EXCHANGE CONTROL POLICY OUTLINE... 5 i. Types of Bank Accounts... 6 ii. Export Receipts... 8 iii. Repatriation of Capital

More information

Guidance for companies, trusts and partnerships on completing a self-certification form

Guidance for companies, trusts and partnerships on completing a self-certification form Guidance for companies, trusts and partnerships on completing a self-certification form In order to combat tax evasion by both individuals and businesses, the UK and many other countries have entered into

More information

Taxation. General. 1. Taxation UK. Mondi plc Ordinary Shareholders

Taxation. General. 1. Taxation UK. Mondi plc Ordinary Shareholders Taxation The statements set out below are intended only as a general guide to United Kingdom ( UK ) and South Africa ( SA ) current law and practice and apply only to certain categories of person who are

More information

PPS RETIREMENT ANNUITY

PPS RETIREMENT ANNUITY PPS RETIREMENT ANNUITY APPLICATION FORM PROFESSIONAL PROVIDENT SOCIETY INVESTMENTS PROPRIETARY LIMITED ( PPS INVESTMENTS ) CLIENT SERVICE CENTRE CONTACT DETAILS TEL: 0861 777 723 (0861 PPS RAF) FAX: 021

More information

accounting principles.

accounting principles. Chapter 8 Accounting Principles 8.1. The previous chapters in Part II described the concepts of economic territory and residence and institutional units and sectors. This chapter discusses the accounting

More information

F.6 Capital transactions

F.6 Capital transactions F.6 Capital transactions 6.1 Foreign investment by South African residents 6.1.1 Private individuals (natural persons) Authorised Dealers may allow private individuals (natural persons) who are taxpayers

More information

21 - MINING. 42 0.87% 221 Utilities 42 0.87% 6,152 0.68 23 - CONSTRUCTION

21 - MINING. 42 0.87% 221 Utilities 42 0.87% 6,152 0.68 23 - CONSTRUCTION Total of State, Local Government and Private Sector 11 - AGRICULTURE, FORESTRY, FISHING & HUNTING 21 - MINING 4,824 71 1.47% 111 Crop Production 24 0.50% 2,754 0.87 112 Animal Production 35 0.73% 5,402

More information

HOW fast has the trade deficit risen or fallen? How

HOW fast has the trade deficit risen or fallen? How 33 BEA BRIEFING A Guide to the U.S. International Transactions Accounts and the U.S. International Investment Position Accounts By Christopher L. Bach HOW fast has the trade deficit risen or fallen? How

More information

Eighteenth Meeting of the IMF Committee on Balance of Payments Statistics Washington, D.C., June 27 July 1, 2005

Eighteenth Meeting of the IMF Committee on Balance of Payments Statistics Washington, D.C., June 27 July 1, 2005 BOPCOM-05/14A Eighteenth Meeting of the IMF Committee on Balance of Payments Statistics Washington, D.C., June 27 July 1, 2005 Balance of Payments Classification of Services Prepared by the OECD Statistics

More information

FOREIGN INVESTMENT IN SHARES

FOREIGN INVESTMENT IN SHARES FOREIGN INVESTMENT IN SHARES TIRUCHELVAMASSOCIATES 116/10,ROSMEADPLACECOLOMBO7,SRILANKA www.tiruchelvam.com Gazette Notification No 1232/14 of 19/04/2002, 1248/19 of 08/08/2002 and 1685/2 of 21/12/2010

More information

33 BUSINESS ACCOUNTING STANDARD FINANCIAL STATEMENTS OF FINANCIAL BROKERAGE FIRMS AND MANAGEMENT COMPANIES I. GENERAL PROVISIONS

33 BUSINESS ACCOUNTING STANDARD FINANCIAL STATEMENTS OF FINANCIAL BROKERAGE FIRMS AND MANAGEMENT COMPANIES I. GENERAL PROVISIONS APPROVED by Order No. VAS-6 of 12 May 2006 of the Director of the Public Establishment the Institute of Accounting of the Republic of Lithuania 33 BUSINESS ACCOUNTING STANDARD FINANCIAL STATEMENTS OF FINANCIAL

More information

G8 Education Limited ABN: 95 123 828 553. Accounting Policies

G8 Education Limited ABN: 95 123 828 553. Accounting Policies G8 Education Limited ABN: 95 123 828 553 Accounting Policies Table of Contents Note 1: Summary of significant accounting policies... 3 (a) Basis of preparation... 3 (b) Principles of consolidation... 3

More information

LAW ON FOREIGN EXCHANGE OPERATIONS OF FEDERATION OF BOSNIA AND HERZEGOVINA

LAW ON FOREIGN EXCHANGE OPERATIONS OF FEDERATION OF BOSNIA AND HERZEGOVINA The translation of BiH legislation has no legal force and should be used solely for informational purposes. Only legislation published in the Official Gazettes in BiH is legally binding. LAW ON FOREIGN

More information