definition remittance. Definition of remittance noun in Oxford Advanced Learner's Dictionary. Meaning, pronunciation, picture, example sentences, grammar, usage notes, synonyms and more. REMITTANCE definition: 1. an amount of money that you send to someone: 2. the act of sending payment to someone: 3. an…. Learn more. REMITTANCE definition: the sending of money, checks, etc., to a recipient at a distance. See examples of remittance used in a sentence.
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Cash-funded outbound transfers face a 1% remittance tax under IRC §4475. Who pays, exemptions for cards/bank transfers and questions about crypto or foreign accounts. It is derived from Latin mittere (meaning "to let go" or "to send"), which is also the root of the English verbs admit, commit, emit, omit, permit, submit, and transmit. Use of remittance in financial contexts referring to the release of money as payment isn't transacted until the 17th century. 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.
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