Foreign remittance definition

Foreign remittance means purchase and sale of freely convertible foreign currencies as admissible under Exchange Control Regulations of the country. Purchase of foreign currencies constitutes inward foreign remittance and sale of foreign currencies constitutes outward foreign remittance.
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Examples of Foreign remittance in a sentence

  • Foreign remittance and withholding taxes charged to the Picture shall be determined as follows: the then-current effective tax rate for a particular country and distribution medium shall be multiplied by the Defined Receipts from such country and distribution medium.

  • Foreign remittance and withholding taxes charged to the Program(s) shall be determined as follows: the then-current effective tax rate for a particular country and distribution medium shall be multiplied by the Defined Receipts from such country and distribution medium.

  • You may access certain Account(s) you maintain with Bank by other EFT transaction types as described below: Foreign Remittance Transfers: Foreign remittance transfer is defined broadly as all EFTs initiated by a consumer in the U.S., for personal, family or household purposes, sent to designated recipients located in foreign countries.

  • Foreign remittance transfers in the amount of fifteen dollars ($15.00) or less are exempt from the applicable rule.