Removal of the requirement for report of foreign sales by exporters
CBP CIRCULAR NO. 1331 Series of 1992
REMOVAL OF THE REQUIREMENT FOR REPORT OF FOREIGN SALES BY EXPORTERS
Pursuant to Monetary Board Resolution No. 190 dated February 28, 1992, to simplify export procedures and documentation, the Report of Foreign Sales (RFS) shall no longer be required from any and all exporters, effective immediately.
The Report of Foreign Sales (Form CBP 6-21-01) is hereby considered abolished.
However, if under existing Central Bank (CB) export rules, an RFS covering traditional export products requires CB approval prior to shipment, Authorized Agent Bank (AABs) shall continue to refer to CB the covering Export Declaration, instead of the RFS, for such purpose.
JOSE L. CUISIA, JR. Governor
More in BSP Circulars
- Amendments to the Manual of Regulations for Banks and for Non-Bank Financial Institutions(BSP Circular No. 321)
- Guidelines on the Adoption of Philippine Financial Reporting Standard (PFRS) 9 - Financial Instruments and Financial Reporting Package for Non-Stock Savings and Loan Associations (FRPNSSLA)(BSP Circular No. 1047)
- Alignment of the Requirements for the Grant of a Full Trust License and an Investment Management Authority(BSP Circular No. 756)
- Minimum documentary requirements for foreign exchange (FX) forward and swap transactions(BSP Circular No. 407)
- Guidelines for approval of relending loans under the Central Bank Restructuring Agreement(BSP Circular No. 1344)
- Interest Earning Deposits as Part of the Investment of a Common Trust Fund to Any One Person, Firm or Corporation Subject to Fifteen Percent (15%) Ceiling(BSP Circular No. 1321)
- Guidelines on Foreign Currency Denominated Philippine National Government (NG)/BSP Bonds/Debt Securities Booked Under Held to Maturity (HTM) Category(BSP Circular No. 558)
- To require all banks to develop and implement a compliance system and to appoint/designate a compliance officer to oversee its implementation(BSP Circular No. 145)
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