Computation Sheet required for Capital Repatriation/Remittance of Dividends/Profits of BSP-Registered Foreign Investments
CIRCULAR LETTER Series of 2005
TO : All Authorized Agent Banks (AABs)
Subject : 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 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.
CELIA M. GONZALEZ Managing Director
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