balance of payments

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balance of payments

n.
A systematic record of a nation's total payments to foreign countries, including the price of imports and the outflow of capital and gold, along with the total receipts from abroad, including the price of exports and the inflow of capital and gold.
American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

balance of payments

n
(Economics) the difference over a given time between total payments to foreign nations, arising from imports of goods and services and transfers abroad of capital, interest, grants, etc, and total receipts from foreign nations, arising from exports of goods and services and transfers from abroad of capital, interest, grants, etc
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014

bal′ance of pay′ments


n.
the difference between a nation's payments to foreign countries and its receipts from foreign countries.
Random House Kernerman Webster's College Dictionary, © 2010 K Dictionaries Ltd. Copyright 2005, 1997, 1991 by Random House, Inc. All rights reserved.

balance of payments

A country’s balance of payments is the difference between the amount it receives for its exports and the amount it pays to other countries for its imports. The balance of payments is divided into: visible items, which are goods, e.g. cars, coffee, oil; and invisible items which are services, e.g. banking, insurance, shipping.
Dictionary of Unfamiliar Words by Diagram Group Copyright © 2008 by Diagram Visual Information Limited
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.balance of payments - a system of recording all of a country's economic transactions with the rest of the world over a period of one year; "a favorable balance of payments exists when more payments are coming in than going out"
accounting - a system that provides quantitative information about finances
capital account - (economics) that part of the balance of payments recording a nation's outflow and inflow of financial securities
current account - that part of the balance of payments recording a nation's exports and imports of goods and services and transfer payments
Based on WordNet 3.0, Farlex clipart collection. © 2003-2012 Princeton University, Farlex Inc.
Translations

balance of payments

nbilancia dei pagamenti
Collins Italian Dictionary 1st Edition © HarperCollins Publishers 1995
References in periodicals archive ?
It offers a host of financial products and services such as loan products, online wealth management and payment facilitation under a single digital financial account.
21, 2012 (CENS) -- In the second quarter this year, Taiwan's financial account under the balance of payment suffered a net outflow for the eighth quarter in a row, with the accumulated amount of net outflow reaching US$51.3 billion, about one eighth of the nation's forex reserves.
Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR), is used to report a financial interest in or signature authority over a foreign financial account.
Section 6038D imposes reporting requirements on individuals who hold more than $50,000 (in the aggregate) in (1) any financial account maintained by a foreign financial institution or (2) any foreign stock, interest in a foreign entity (including a foreign trust), or financial instrument with a foreign counterparty that is not held in a custodial account of a financial institution.
A sector's net lending/borrowing is illustrated by the balance on the financial account, the last account in the sequence of accounts used by the national accounting system to describe economic performance.
taxpayers who own a foreign bank account, brokerage account, mutual fund, unit trust or other financial account are required to file a Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts if:
The financial account for households and NPISH is regarded as important input to Norges Bank's monetary policy decisions.
The Financial Crimes Enforcement Network (FinCEN) issued a final rule (tinyurl.com/4tevafd) that amends the regulations under the Bank Secrecy Act (BSA) regarding Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts (FBAR), to clarify when an account is foreign and therefore reportable as a foreign financial account and the definition of key terms like "signature or other authority."
The surplus of balance of payment, however, reached only US$3.4 billion in the fourth quarter last year, a nine-quarter low, as financial account suffered a net outflow of US$6.56 billion, which wiped out a big chunk off the surplus of US$10.1 billion in current account.
In Notice 2010-23 the Ins provided administrative relief from FBAR filing responsibility for persons with only signature authority over, but no financial interest in, a foreign financial account and those with signature authority over or a financial interest in foreign commingled funds.
taxpayers having a financial interest in, or signature or other authority over, any financial account in a foreign country exceeding $10,000 should file an FBAR.
The FBAR form provides that "the principal purpose for collecting the information is to assure maintenance of reports where such reports or records have a high degree of usefulness in criminal, tax, or regulatory investigations or proceedings." The form mandates disclosure of financial account information, along with the taxpayer's tax identification number.

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