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#giftcity IFSC at GIFT City provides a realm of simplified regulations, tax advantages, and an inviting ecosystem tailored to entice both local and global financial giants. Key features of GIFT IFSC include: Dedicated financial services zone within India (capital convertibility) Limited applicability of exchange control provisions Lower cost of operations Progressive tax regime Recent developments and growing popularity in GIFT IFSC GIFT NIFTY – onshoring the offshore The trading of SGX Nifty, previously on the Singapore Exchange's platform, has shifted to NSE's International Exchange (NSE IX) within GIFT IFSC w. e. f. 03 July 2023. This creates a gateway for more global securities to be listed on GIFT-NIFTY. The current daily turnover is $10 billion. Capital gains from derivatives listed on NSE IX are exempt from Indian income tax. As the platform grows, its influence on global and local markets will shape financial activities in and beyond India. Banks: matured lending platforms The original IFSC banking framework, which only permitted branches to be set up, has expanded to include subsidiaries (i.e., a company). Recently in July and August 2023, a few banks have obtained a license to undertake banking operations; 5 of the top 10 global banks and all top 10 Indian banks operate in GIFT IFSC. As of July 2023, the total banking asset size is US$41.20 billion2 and a cumulative value of banking transactions is US$508 billion. Indian Income-tax law provides for a concessional tax regime of 5% on interest on external commercial borrowing (ECB) by Indian borrowers. Post 1 July 2023, the tax rate applicable is 20% or as per tax treaties, whichever is lower. Reduced tax holiday of 10 years for banks in GIFT IFSC translates to reduced borrowing costs, which may attract additional business for banks in GIFT IFSC given that borrowers will always tend to reduce borrowing cost and therefore borrow from banks in GIFT IFSC. Importantly, foreign banks are now allowed to undertake acquisition financing and issue P-notes basis underling Indian securities. This could create new opportunities for foreign banks and help Indian companies get funding for local acquisitions. Family investment funds (FIF): emerging area of interest GIFT IFSC houses over 50 Alternate Investment Funds (AIFs) with a corpus exceeding US $17.8 Billion. A framework under the fund regime has been enabled for Family Investment Funds (FIFs), which allows Indian residents to set up overseas investment vehicles, with specific conditions as mentioned below. Obtain a license from IFSCA Minimum corpus – US$10 million over a period of three years Minimum one Principal Officer is required 

News: Bank of London stresses investor confidence in £42m raise amid tax troubles The Bank of London has stressed that its investors remain confident in the business despite its ongoing tax troubles after the firm announced it had raised £42 million in fresh funding. The embedded banking and deposit-as-a-service business said it completed the raise during the month of August in an over-subscribed funding round led by Luxembourg-based Mangrove Capital Partners. CEO Stephen Bell said: “Our success in completing this £42 million funding round underscores investor belief and confidence in our vision, and I am excited to take over leadership of The Bank of London as it continues to grow.” “The Bank of London’s ability to close an over-subscribed £42 million funding round speaks to the confidence investors have in its leadership and unique model,” added Mark Tluszcz, CEO of Mangrove Capital Partners, an early investor into tech firms Wix and Skype. Bank of London investors were stunned on Friday after it was revealed the firm had received a winding up petition from HMRC, a manoeuvre used by the government body when it is unable to collect unpaid taxes from a business. The news came just days after the firm’s founder, Anthony Watson, announced he would be stepping down as CEO to transition to a new role as senior adviser. The company’s advisers worked through the weekend to shore up investor and customer confidence, including meeting with the Bank of England on Sunday to discuss its governance practices, according to the Financial Times, which also reported that Bank of London directors had been unaware of the unpaid taxes to HMRC. The Bank of London has insisted that it is in a strong capital and liquidity position, adding that the winding up petition was down to an “administrative” delay and the tax owed had now been paid. The firm said it had also hit two milestones in August: Customer deposits passed £500m, having more than doubled since the start of the year, and are on course to exceed £1 billion by the end of the year, while the bank successfully onboarded its 100th institutional client and has over 4,500 clients in total. Founded in 2021, the Bank of London is the UK’s newest clearing bank and one of only six established in the last 250 years. The fintech business has close ties to the new Labour administration in the UK, with Labour peer Lord Mandelson on its board and founder Watson a previous chair of the party’s Business and Enterprise Advisory Council. #bankoflondon #london #stakeholders

🔍 **Understanding Key Financial Concepts in Banking** In the dynamic world of finance, understanding core concepts is essential for both professionals and investors. Here's a detailed look at some crucial financial terms and recent developments I have recently come across. 1. **Systemic Risk in Banking 🏦:** Systemic risk refers to the potential for the failure of a single financial institution to trigger a collapse of the entire financial system. This risk is exacerbated by the interconnected nature of financial institutions, where the failure of one entity can lead to a cascading effect across the system. The 2008 global financial crisis is a prime example of systemic risk, highlighting the importance of robust risk management and regulatory frameworks to mitigate such threats. 2. **Windfall Tax in Nigeria 🇳🇬:** Nigeria has recently implemented a significant policy change regarding windfall taxes. A windfall tax is imposed on unexpected or unusually large profits. In 2023, Nigerian banks reported substantial gains from foreign exchange (forex) transactions, prompting the government to introduce a retroactive windfall tax on these profits. The Senate has approved a one-time levy of 70%, up from an initially proposed 50%. This measure is part of President Bola Tinubu’s Renewed Hope Agenda, aimed at generating revenue for critical infrastructure projects, education, healthcare, and public welfare. The retroactive nature of this tax has stirred concerns among investors about potential impacts on investor confidence and Nigeria’s broader investment climate . 3. **Interest Income 💵:** Interest income is generated by financial institutions from lending money or investing in interest-bearing assets, such as loans, bonds, and mortgages. This revenue is a primary source of income for banks, reflecting their core lending operations. For instance, in 2023, major banks reported fluctuations in interest income due to varying central bank policies and economic conditions, impacting their overall financial performance. 4. **Net Interest Income (NII) 📈:** Net Interest Income (NII) is the difference between the interest income earned from lending activities and the interest expense incurred from deposits or borrowings. NII is a crucial metric for assessing a bank's profitability from its core operations. In recent financial reports, banks have faced challenges with NII due to changing interest rates and economic conditions, which have affected their margins and financial stability. Understanding these concepts and recent developments helps provide valuable insights into the financial sector and its ongoing transformations. Staying informed about such topics is essential for making informed decisions in the ever-evolving landscape of finance. #Finance #Banking #FinancialLiteracy #RiskManagement #WindfallTax

Revolut Expands to Bonds in Ireland, But Tax Implications Remain Unclear Exciting news for Revolut users in Ireland! The digital bank is now offering investment opportunities in bonds, potentially yielding returns of up to 5.5% annually. 📈 However, financial experts urge caution due to the complexities surrounding bond taxation in Ireland. ⚠️ Unlike savings accounts, bond tax rates can be significantly higher and vary depending on the type of bond: ・Government Bonds: Taxed at your marginal rate (up to 55%) ・EU ETFs: Taxed at 41% ・Corporate Bonds: Capital gains tax of 33%, but additional rules apply if sold within 2 years. 💼 I think it's worth considering jumping into Revolut bonds for investment. But before you go for it, it's a good idea to chat with a tax advisor. They can help you figure out the financial stuff and make sure you get the most out of your investment. It'll make the whole investment journey way more exciting! 💡 https://lnkd.in/dDGQQQXd #Revolut #Bonds #Investing #Tax #FinancialPlanning

Are You a Fair Minded person who prefers Truth then please consider the following. Patriotic Millionaires want a Wealth Tax and add to that a Financial Transaction Tax and Labour can NOW CHANGE SOCIETY TO BENEFIT ALL In 2014 Simon Thorpe, a financial analyst and blogger, wrote exclusively about the need for a Financial Transaction Tax in the UK, instead Cameron and Osborne brought in Austerity, an Ideological Political Choice, and we have all seen where that has brought us to. I believe that Simon’s arguments are sound as an FTT would be a powerful tool for promoting financial stability and protecting Society. It would also generate a substantial amount of revenue that could be used to fund Public Services. https://lnkd.in/ebhwYDen Here are some of the benefits of an FTT: Reduce the risk of a Financial Crisis. Raise revenue of Billions of Pounds that could fund all Public services. Make the financial system fairer by ensuring Everyone pays their fair share. Promote long term investment that would help Economic growth and create jobs. An FTT is an effective and fair way to raise Revenue as ALL Financial Transactions are Taxed so Everyone pays their fair share relative to their expenditure. This quote is from Simon’s blog in 2014;- “In the end, as I have argued repeatedly, it looks very likely that the value of UK Financial Transactions is around 4,000 times larger that Total UK Tax Revenue. And that means an intelligent and responsible Government could effectively replace the existing Tax system with a miniscule Financial transaction tax of around 0.025%”. To enable change now in 2024 that 0.025% could be increased to 0.1% and that would hurt No Billionaire, Millionaire, Ordinary Tax Payer or Non Tax Payer and would raise between £2.5 Trillion and £3 Trillion based on an estimated £2.5 Quadrillion to £3 Quadrillion current Financial transactions in the System. All other Taxes in UK could be cancelled and so could ALL State Pensions and State benefits as a Universal Basic Income of c£1500 per month, greater than those, could be paid to ALL over 16 years of age, be they working or not. Every £ spent in the Economy would be taxed and this would Benefit ALL in Society. It just requires Bankers and Politicians to work for the Benefit of Society and for AI to be used to ensure ALL Financial Transactions are taxed at 0.1% wherever they occur in the Banking and Finance System. To Grow the Economy one needs Consumers who spend money in the Economy to have the resources to do that, be they Fair Wages or a UBI and the FTT at 0.1% would enable that. Authored by Alan Bowman. A True & Fair Party Member Previously Labour Party Member

Understanding the IRS's New Guidelines on Digital Payments and Tax Reporting In today’s digital age, many small business owners and freelancers rely heavily on platforms like Venmo, PayPal, and Cash App to receive payments. While these platforms are convenient, they also come with tax obligations that many might not be fully aware of. The IRS has recently updated its guidelines regarding digital payments, and it’s important for everyone—especially small business owners and self-employed individuals—to understand what’s changed. What’s New? The IRS now requires third-party payment platforms to report business transactions if they exceed $600 in a calendar year. Previously, this threshold was $20,000, so this is a significant change. The platforms will issue a Form 1099-K to both the business owner and the IRS, reporting the total amount of transactions. Why Is This Important? Failing to report income can lead to penalties, interest, and other issues with the IRS. By staying informed about these changes and keeping accurate records, you can avoid these pitfalls and ensure that your business remains compliant with tax laws. Need Help? If you’re unsure about how these changes may affect you, or if you need guidance on staying compliant, our CPAs are here to help. Don’t hesitate to reach out for personalized advice and support. #Finance #FinTech #FinancialServices #Investment #WealthManagement #Investing #Economy #Banking #Economics #FinancialPlanning #Business #FinanceJobs #Tax #Accounting #Finances #FinancialAdvisor #CFO #FinancialFreedom #FinancialLiteracy #Money #FinancialInclusion #FinancialAdvice #Stocks #Investors #Cryptocurrency #Blockchain #InvestmentBanking #PrivateEquity #CapitalMarkets #VentureCapital #Insurance #RiskManagement #MergersAndAcquisitions #Wealth #FinancialWellness #PersonalFinance #FinancialAnalysis #FinancialConsulting #RealEstate #MarketAnalysis #Trading #HedgeFunds #Bonds #FinancialIndependence #DigitalBanking #Credit #Debt #TaxPlanning #EconomicGrowth #EconomicDevelopment #MoneyManagement #FinancialMarket #Savings #FintechInnovation #FinancialEducation #InvestmentStrategy #PortfolioManagement #InvestmentManagement #WealthBuilding #PrivateBanking #EconomicOutlook #CorporateFinance #Pensions #FinancialTechnology #FinancialConsultant #FinancialStability #GlobalEconomy #Taxation #FamilyOffice #EstatePlanning #CFP #RiskAssessment #FinancialRisk #FinancialHealth #AssetManagement #FinancialAdvisorLife #FinancialGrowth #FinancialEmpowerment #FinancialMarkets #InvestmentOpportunities #TaxSeason #AlternativeInvestments #FinancialForecasting #CashFlow #Audit #CPA #CFOStrategy #FixedIncome #BusinessFinance #FinancialTransformation #FinancialInstitutions #FinancialIndustry #EmergingMarkets #FinancialInnovation #CorporateTax #DigitalFinance #GlobalFinance #TaxAdvisory #PublicFinance #FinancialReporting

The Future of Bank Guarantees in Trade Finance Bank guarantees have long been an essential tool in trade finance, providing security for international transactions and enabling businesses to mitigate risks such as non-payment or failure to deliver goods. As global trade evolves, so does the role of bank guarantees. 1. The Role of Technology in Bank Guarantees With the rise of digitalization in the financial sector, bank guarantees are transitioning towards more efficient and transparent digital processes. The adoption of blockchain technology and smart contracts is reshaping how guarantees are issued and managed. For example, the International Chamber of Commerce (ICC) has developed the Digital Standards Initiative, aiming to digitize trade finance processes, including bank guarantees. According to Trade Finance Global, blockchain can lower transaction costs by up to 30%, while Accenture predicts that distributed ledger technology could reduce trade finance operating costs by 50% over the next decade. 2. Sustainability and Green Guarantees As sustainability becomes a critical focus for businesses, bank guarantees are also adapting to support environmentally friendly practices. Green guarantees are emerging as a mechanism to ensure that funds are used for sustainable projects, particularly in infrastructure, renewable energy, and green supply chains. The Asian Development Bank (ADB), for instance, is spearheading green bank guarantees to support clean energy projects in Asia. In 2022, green guarantees accounted for $600 million in projects, with predictions that this figure will double by 2025. This shift aligns with broader efforts to promote Environmental, Social, and Governance (ESG) criteria in trade finance. 3. Increased Security and Risk Mitigation Bank guarantees provide a critical layer of security in trade transactions, especially in markets with higher risks. The global bank guarantees market is expected to grow by 7.2% annually, reaching $16.7 billion by 2028, driven by the need for risk mitigation in emerging markets. ECAs play a significant role in de-risking transactions, with 75% of trade finance now involving some form of government or ECA backing, particularly for large infrastructure projects. 4. Regulatory Changes and Global Standards The regulatory landscape for bank guarantees is also evolving to address new challenges in global trade. Regulatory bodies, including the Basel Committee on Banking Supervision (BCBS), are tightening rules around capital adequacy and risk assessment for trade finance instruments, including guarantees. Conclusion The future of bank guarantees in trade finance is marked by significant opportunities for innovation, particularly through digitalization and sustainability initiatives. As businesses increasingly focus on ESG criteria and seek faster, more secure transactions, bank guarantees will continue to play a vital role in mitigating risk and ensuring the smooth flow of global trade.

The Future of Bank Guarantees in Trade Finance Bank guarantees have long been an essential tool in trade finance, providing security for international transactions and enabling businesses to mitigate risks such as non-payment or failure to deliver goods. As global trade evolves, so does the role of bank guarantees. 1. The Role of Technology in Bank Guarantees With the rise of digitalization in the financial sector, bank guarantees are transitioning towards more efficient and transparent digital processes. The adoption of blockchain technology and smart contracts is reshaping how guarantees are issued and managed. For example, the International Chamber of Commerce (ICC) has developed the Digital Standards Initiative, aiming to digitize trade finance processes, including bank guarantees. According to Trade Finance Global, blockchain can lower transaction costs by up to 30%, while Accenture predicts that distributed ledger technology could reduce trade finance operating costs by 50% over the next decade. 2. Sustainability and Green Guarantees As sustainability becomes a critical focus for businesses, bank guarantees are also adapting to support environmentally friendly practices. Green guarantees are emerging as a mechanism to ensure that funds are used for sustainable projects, particularly in infrastructure, renewable energy, and green supply chains. The Asian Development Bank (ADB), for instance, is spearheading green bank guarantees to support clean energy projects in Asia. In 2022, green guarantees accounted for $600 million in projects, with predictions that this figure will double by 2025. This shift aligns with broader efforts to promote Environmental, Social, and Governance (ESG) criteria in trade finance. 3. Increased Security and Risk Mitigation Bank guarantees provide a critical layer of security in trade transactions, especially in markets with higher risks. The global bank guarantees market is expected to grow by 7.2% annually, reaching $16.7 billion by 2028, driven by the need for risk mitigation in emerging markets. ECAs play a significant role in de-risking transactions, with 75% of trade finance now involving some form of government or ECA backing, particularly for large infrastructure projects. 4. Regulatory Changes and Global Standards The regulatory landscape for bank guarantees is also evolving to address new challenges in global trade. Regulatory bodies, including the Basel Committee on Banking Supervision (BCBS), are tightening rules around capital adequacy and risk assessment for trade finance instruments, including guarantees. Conclusion The future of bank guarantees in trade finance is marked by significant opportunities for innovation, particularly through digitalization and sustainability initiatives. As businesses increasingly focus on ESG criteria and seek faster, more secure transactions, bank guarantees will continue to play a vital role in mitigating risk and ensuring the smooth flow of global trade.

⭐ Excellent insights and a comprehensive summary of the top 5 key takeaways! The discussion on '5. People matter most' and '1. AI will change everything but not yet' presents fascinating viewpoints. It's clear that both elements are crucial in shaping the 'modern treasury' of the future, where people, tools, and processes continue to evolve and enhance this essential business function. 🎶👂 it's encouraging to see a strong focus on technology as an enabler to streamline workloads and processes, particularly in back-office operations. Robotic Process Automation (RPA) is an outstanding example of how tasks can be efficiently automated, serving as a bridge between hands-on and AI-driven treasury functions until explainable AI technology matures, offering transparency in its conclusions. 🌤️ In the meantime, resilience, cybersecurity, and the speed to innovate will drive the adoption of cloud-based treasury solutions. Companies like @FIS are at the forefront, providing state-of-the-art encryption and robust solutions today and into the future. #resilience, #treasury, #RPA, #AI

The year is flying by and tax time is already upon us. To help you get organised, we’ve noted some important dates and key information to have ready. Important Dates • June 30: This is when the financial year ends. Your Tax return is calculated for a financial year, in Australia, that is July 1 to June 30. • July 1: This is when you can start lodging your tax return if you have all of the relevant information ready. • July 14: The date when most salaried individuals receive PAYG (Summary of tax payments) from their employers. • Oct 31: Deadline to file your taxes. Key Documents & Information to Have Ready TFN: Your Tax File Number Bank Account Details: Your Bank Name, Account Number and BSB in case the ATO needs to process a refund Medicare Card: Card number and its expiry date. PAYG: Payment summary provided by your employer Other Income: Gather information regarding income from other sources such as: • Rent • Interest earned • Stock dividends • Royalties • Foreign income • Capital gains • Cryptocurrency gains etc. Deductions: Deductions can be tricky to navigate and usually include work-related expenses that have been incurred and not reimbursed which may impact your tax burden such as: • Work-related deductions • Home office expenses • Self-education and professional development • Professional registrations, subscriptions, memberships • Vehicle and travel expenses • Protective clothing, laundry and dry-cleaning expenses • Tools and equipment, including depreciable assets (such as laptops) • Accountant or tax agent fees • Personal super contributions • Investment income expenses, such as margin loans and financial adviser fees • Income protection insurance premiums You can read the full list here: https://bit.ly/45CPx3Q #mortgagetips #bankingsecrets #financialinsights #banking #finance #Big4 #financefacts #homebuyingtips #financialfreedom #rba #mortgage #interestrates #homeloantips #investors #homeloans #finance #money #banks #realestate #refinancing #firsthomebuyer #firsthome