remittance date meaning - MARKETS
The proposed regulations would apply to remittance transfers made in calendar quarters beginning on or after the date the regulations are finalized, but collectors and taxpayers may rely on the proposed regulations for remittance transfers made after , and before the first calendar quarter beginning on or after the date the ... What Is a Remittance? "Remittance" refers to sending money from one person or group to another and commonly refers to sending money back to one's family in another country.
Understanding the Context
A remittance is a non-commercial transfer of money by a foreign worker, a member of a diaspora community, or a citizen with familial ties abroad, for household income in their home country or homeland. Remittance is the act of sending money from one party to another, typically across a geographical distance. While it can be domestic, it most often refers to international money transfers made by migrant workers, businesses paying for imports/exports, or individuals sending money to family abroad. A remittance is a financial transfer made from one party to another, often across borders or geographical locations.
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Key Insights
This term typically describes regular support payments from individuals to recipients who are often family members. What is a remittance? (Plus, how to send them) | PayPal US A remittance transfer is a money transfer sent electronically from the United States to another country by a remittance transfer provider. Common terms may include “international wires,” “international money transfers,” and “remittances.” A remittance is the money sent, often for personal support, while a bank transfer is one of the methods used to send it. Remittance has a stronger connotation of being an international, non-commercial transfer.