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Regulatory Update from IFSCA (International Financial Services Centres Authority)
IFSCA has released a Circular prescribing the fees for the newly introduced Book-keeping, Accounting, Taxation, and Financial Crime Compliance Services (BATF) Regulations. 𝐅𝐞𝐞 𝐒𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐞:– 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧 𝐅𝐞𝐞𝐬: $1,000 per activity– 𝐑𝐞𝐠𝐢𝐬𝐭𝐫𝐚𝐭𝐢𝐨𝐧 𝐅𝐞𝐞𝐬: $5,000 𝐀𝐧𝐧𝐮𝐚𝐥 𝐅𝐞𝐞𝐬 𝐟𝐨𝐫 𝐒𝐞𝐫𝐯𝐢𝐜𝐞 𝐏𝐫𝐨𝐯𝐢𝐝𝐞𝐫𝐬:– Less than 500…
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Buyback of Shares in India – Meaning, Reason, Types, Taxability
Introduction In the dynamic world of corporate finance, the buyback of shares has emerged as a significant tool for companies to optimize their capital structure and reward shareholders. Simply put, a buyback of shares happens when a company repurchases its…
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Impact of PMLA Amendments on Virtual Digital Asset Transactions
Notification Coverage The Ministry of Finance has notified an amendment in Prevention of Money-Laundering Act, 2002 (“Act”) by way of Notification No. S.O. 1072(E) dated 07.03.2023 (“Notification”). The Act has been amended to include cryptocurrency or virtual digital assets (“VDA”)…
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