Harsh Dilip Kothari’s Post

Yesterday, our Hon'ble Prime Minister Shri Narendra Modi launched the much-awaited IFSCA’s 𝐒𝐢𝐧𝐠𝐥𝐞 𝐖𝐢𝐧𝐝𝐨𝐰 𝐈𝐓 𝐒𝐲𝐬𝐭𝐞𝐦 (𝐒𝐖𝐈𝐓). This platform is expected to be a game changer for businesses looking to set up units in GIFT IFSC. 𝐖𝐡𝐚𝐭 𝐢𝐬 𝐒𝐖𝐈𝐓? SWIT is a unified digital platform designed to streamline the entire application process by bringing together key regulatory bodies like the RBI, SEBI, IRDAI, and more, all on a single platform. Currently, businesses looking to establish themselves in GIFT IFSC must navigate multiple processes with different regulatory authorities, including: - Approval from IFSCA - Approval from SEZ (IFSCA Administrator) - NOC from SEBI / RBI / IRDAI (as applicable) - Registration with GST authorities Many of these processes were interdependent, sometimes creating a chicken-and-egg situation. However, with SWIT, all these steps are now consolidated into a single online portal, enhancing the ease of doing business in GIFT IFSC! Check it out here: https://swit.ifsca.gov.in/ Exploring GIFT IFSC for your business? Reach out to us at [email protected] for a detailed discussion! Treelife Jitesh Agarwal Gaurav Shetty

Maximising Efficiency With Dext..... Solo (Part 3) 💡 It's time to collect the records of your non-VAT-registered, unincorporated sole trader and landlord clients in real time 👊 Get ready for MTD for ITSA before legislation forces your hand 👋 Dext Solo is a stand-alone solution that we think is the best fit for the job! Previously, we covered what Dext Solo is and who it's suitable for. In this video, Paul L. & Max Whiteley ☁️ BFP ACA are explaining the various methods by which you can add transaction data on behalf of your Dext Solo clients and categorise them into HMRC set codes ready for filing! How to Add Income & Expenses 🤔 Firstly, you can use the submission methods you're used to from Dext Prepare: Snap pictures of receipts on the go using the Smartphone App 🤳 Forward receipts to your personalised Dext Email address 📧 Connect to your supplier portals using Auto-Fetch 🛒 Upload documents from your PC 🖥 You can also connect your bank account through one of our many DEXT bank feeds. From here, you'll be able to categorise all of your payments and receipts 🗃 The list of codes you can use to categorise transactions are all mapped to preset codes given by HMRC, so you can complete your tax return effortlessly! It may be necessary to split out line items in a costs or sales item, like when differentiating between business and personal expenses. Thankfully, this functionality is readily available in Dext Solo! 🚀 Want to find out more about Dext Solo and its impact on your workflows? Click the link to sign up for our webinar: https://lnkd.in/e6ckqE5Q

LHDN, TNB To Start Using MyDigital ID In 2025 The Inland Revenue Board of Malaysia (LHDN) and Tenaga Nasional Berhad (TNB) have both announced the integration of MyDigital ID on their respective platforms. This follows the digital minister Gobind Singh’s announcement yesterday that all government platforms will eventually use the single sign-on feature. LHDN, on its part, revealed that it will start using MyDigital ID on its MyTax portal from 1 January 2025 onwards. However, this will likely only be an additional sign-in option for the platform, as the announcement stated that full integration of the digital identification system will only be implemented on 1 January 2027. Image: Amanz Separately, TNB announced in a statement that it will integrate MyDigital ID as an additional sign-in option starting early 2025. The energy firm said that it will invite its subscribers to try the new login method in the initial rollout phase. Unlike LHDN, TNB did not outline a plan to make the use of MyDigital ID mandatory. Last month, the MyJPJ app rolled out an update notifying users that it will soon be requiring the use of MyDigital ID for logging in. This decision was soon postponed after public backlash. However, during the tabling of Budget 2025, prime minister Anwar Ibrahim announced that MyDigital ID would serve as a centralised hub for all government agencies. (Source: Amanz, The Star) The post LHDN, TNB To Start Using MyDigital ID In 2025 appeared first on Lowyat.NET. https://ift.tt/mWhIlT4

Whilst the legislative proposals for a Directive on payment services and electronic money services (PSD3) and a Regulation on payment services in the EU (PSR) are wide-ranging and will require payment service providers (PSPs) to make further changes, this latest chapter in the ongoing saga of payments regulation is slightly more “evolution” than the “revolution” of its predecessor, the second Payment Services Directive 2015/2366 (PSD2). However, many of the required changes will be significant and challenging - particularly in terms of the tech and ops projects that would appear to be required. The finalised legislation and implementation timelines are still awaited. In the meantime, we have put together a Report to help affected firms get ahead of the game in pinpointing where the proposed changes are likely to impact their businesses.

Whilst the legislative proposals for a Directive on payment services and electronic money services (PSD3) and a Regulation on payment services in the EU (PSR) are wide-ranging and will require payment service providers (PSPs) to make further changes, this latest chapter in the ongoing saga of payments regulation is slightly more “evolution” than the “revolution” of its predecessor, the second Payment Services Directive 2015/2366 (PSD2). However, many of the required changes will be significant and challenging - particularly in terms of the tech and ops projects that would appear to be required. The finalised legislation and implementation timelines are still awaited. In the meantime, we have put together a Report to help affected firms get ahead of the game in pinpointing where the proposed changes are likely to impact their businesses.

Whilst the legislative proposals for a Directive on payment services and electronic money services (PSD3) and a Regulation on payment services in the EU (PSR) are wide-ranging and will require payment service providers (PSPs) to make further changes, this latest chapter in the ongoing saga of payments regulation is slightly more “evolution” than the “revolution” of its predecessor, the second Payment Services Directive 2015/2366 (PSD2). However, many of the required changes will be significant and challenging - particularly in terms of the tech and ops projects that would appear to be required. The finalised legislation and implementation timelines are still awaited. In the meantime, we have put together a Report to help affected firms get ahead of the game in pinpointing where the proposed changes are likely to impact their businesses.

Whilst the legislative proposals for a Directive on payment services and electronic money services (PSD3) and a Regulation on payment services in the EU (PSR) are wide-ranging and will require payment service providers (PSPs) to make further changes, this latest chapter in the ongoing saga of payments regulation is slightly more “evolution” than the “revolution” of its predecessor, the second Payment Services Directive 2015/2366 (PSD2). However, many of the required changes will be significant and challenging - particularly in terms of the tech and ops projects that would appear to be required. The finalised legislation and implementation timelines are still awaited. In the meantime, we have put together a Report to help affected firms get ahead of the game in pinpointing where the proposed changes are likely to impact their businesses.

Whilst the legislative proposals for a Directive on payment services and electronic money services (PSD3) and a Regulation on payment services in the EU (PSR) are wide-ranging and will require payment service providers (PSPs) to make further changes, this latest chapter in the ongoing saga of payments regulation is slightly more “evolution” than the “revolution” of its predecessor, the second Payment Services Directive 2015/2366 (PSD2). However, many of the required changes will be significant and challenging - particularly in terms of the tech and ops projects that would appear to be required. The finalised legislation and implementation timelines are still awaited. In the meantime, we have put together a Report to help affected firms get ahead of the game in pinpointing where the proposed changes are likely to impact their businesses.

Recently, the Competition Commission of India, in Re: Ayudha Foundation v. Talk Charge Technologies Pvt. Ltd (Case No. 36 of 2023) had dismissed a complaint alleging abuse of dominant position under Section 4 of the Competition Act, 2002 filed against Talk Charge Technologies Pvt. Ltd. It was ruled that the market consisted of several service providers and there was insufficient evidence to prove the Informant's sole dependence on Talk Charge Technologies. The CCI observed that the complaint revolved around the additional fees imposed by Talk Charge Technologies without complete disclosure in the GST Bill. To analyze the allegation pertaining to such abuse of dominance, the relevant market was delineated as the "the market for digital payment platforms in India." The Commission noted that several domestic and global players operated within the market which indicated a competitive landscape and there was no sufficient evidence establishing that the Informant was solely dependent on Talk Charge Technologies. Therefore, it was concluded that due to the absence of dominance of Talk Charge Technologies in the relevant market, the complaint is devoid of any basis for investigating upon the allegations of abuse of dominant position and the complaint was thus, dismissed under Section 26(2) of the Act. [The full news could be accessed at: https://lnkd.in/d-A2Qb9y]

PSR sets out next steps for variable recurring payments in the UK