How much is the fine for illegally remitting foreign currency into the country?

Our country's management of the inflow and outflow of foreign exchange is relatively strict. Only approved financial institutions can conduct foreign exchange transactions, and foreign exchange transactions must be reviewed. So what are the fines for illegally remitting foreign exchange into the country? The following is provided by the Legal Savior Network The editor will answer this question for you, hoping to help you in a substantial sense.

How much is the fine for illegally remitting foreign exchange into the country

According to relevant legal regulations Anyone who remits foreign exchange into the country in violation of regulations shall be ordered to make corrections by the foreign exchange management authority and a fine of not more than 30% of the illegal amount shall be imposed; if the circumstances are serious, a fine of not less than 30% but not more than the equivalent of the illegal amount shall be imposed.

"Regulations of the People's Republic of China on Foreign Exchange Administration"

Article 41 Violation of the regulations will result in If foreign exchange is remitted into the country, the foreign exchange management authority shall order it to make corrections and impose a fine of not more than 30% of the illegal amount; if the circumstances are serious, a fine of not less than 30% of the illegal amount but not more than the equivalent amount shall be imposed.

In case of illegal settlement of foreign exchange, the foreign exchange management authority shall order the illegal settlement of foreign exchange funds to be redeemed and impose a fine of not more than 30% of the illegal amount.

How to punish illegal foreign exchange transactions

Illegal transactions are very common in relevant financial institutions and related import and export transactions, and the country is constantly increasing its efforts to supervise them, but there are still phenomena that occur. . A very serious consequence of illegal foreign exchange transactions is the loss of state-owned assets.

The illegal use of foreign exchange by domestic institutions includes: (1) pricing and settlement in foreign currency within the country; (2) unauthorized pledge of foreign currency; (3) unauthorized changes in foreign exchange Purpose; (4) Other illegal use of foreign exchange.

If a domestic institution commits any of the above-mentioned illegal uses of foreign exchange, the foreign exchange management authority shall order it to make corrections, force exchange, confiscate illegal gains, and impose illegal foreign exchange amounts, etc. A fine of not more than the value shall be imposed; if a crime is constituted, criminal liability shall be pursued in accordance with the law.

Our country implements strict foreign exchange controls, and the law prohibits foreign exchange transactions in banks and indexes.Engage in private foreign exchange transactions outside the designated foreign exchange market. If the purchased foreign exchange is not used temporarily, it can be deposited in a bank or sold to a designated foreign exchange bank. However, Zeng went to the black market to sell without authorization, which disrupted the order of financial management and should be punished. Article 45 of the "Foreign Exchange Administration Regulations of the People's Republic of China" (hereinafter referred to as the "Foreign Exchange Administration Regulations"): Anyone who buys and sells foreign exchange privately, buys and sells foreign exchange in disguised form, buys and sells foreign exchange, or illegally introduces the purchase and sale of foreign exchange in a relatively large amount shall be given a warning and confiscated by the foreign exchange management authority. For illegal gains, a fine of less than 30% of the illegal amount is imposed. If the circumstances are serious, if a fine of more than 30% of the illegal amount constitutes a crime, criminal liability shall be investigated in accordance with the law.

The above is the relevant knowledge compiled for you by the editor of the Legal Savior Network. Anyone who remits foreign exchange into the country in violation of regulations will be ordered to make corrections by the foreign exchange management agency and fined the illegal amount. A fine of not more than 30% of the illegal amount shall be imposed; if the circumstances are serious, a fine of not less than 30% but not more than the equivalent of the illegal amount shall be imposed. If readers encounter other problems, they can come to the Legal Savior website to find a professional team of lawyers for consultation.