TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Circulars
of of All Circulars
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>New KYC, AML, CFT Rules Remove Board Resolution Requirement for Forex Transactions; Corporations Must List Authorized Officials.</h1> The circular addresses the obligations of Authorized Persons under the Prevention of Money Laundering Act (PMLA) and related amendments, specifically concerning Know Your Customer (KYC), Anti-Money Laundering (AML), and Combating the Financing of Terrorism (CFT) standards. It announces the removal of the requirement for a Resolution of the Board of Directors for foreign exchange transactions with Authorized Money Changers (AMCs). Instead, corporations must submit a list of officials authorized by the Managing Director or Chief Financial Officer to conduct such transactions. Other guidelines remain unchanged, and the instructions apply to agents and franchisees of Authorized Persons.
TaxTMI 
TaxTMI 
