Friday, 05 April 2024 08:09

1st quarter issue of 2024 PRISM 利安达税务通讯-2024年第一季PRISM


PRISM Tax Newsletter
1st Quarter 2024 issue

The latest PRISM, the quarterly-issued Reanda international tax newsletter, provides updates and insights about the recent international taxation changes and topical issues. Please click here to read more:
Read the publication


利安达国际最新一期税务季刊,让您掌握最新的国际税务动态与热门话题。 欢迎点击以下链接阅读!

We would like to encourage your active contribution on the 2nd Quarter 2024 issue of PRISM. Please provide your article with the attached submission form. Thank you for your support!

我们诚邀大家投稿PRISM 2024 年第 2 季刊,请填写附件的投稿表格提供文章,谢谢支持!

焦点内 Highlights ​



Client-to-Agent Linking

Businesses can use the online services of the Australian Taxation Office (ATO) to nominate a tax agent. 
These steps are for clients who need to nominate a tax agent or Business Activity Statements (BAS) agent or payroll service provider to represent the client. 
Clients only need to do this when they:
  • Engage a new tax or BAS agent, or payroll service to represent the client. 
  • Provide extra authorisation to your existing authorised agent (for example, they start representing you for a new obligation, such as income tax or a new entity in your group)


企业可以使用澳大利亚税务局 (ATO) 在线服务来指定税务代理人。
• 聘请新的税务或 BAS 代理或薪资服务提供商来代表客户
• 向现有的授权代理人提供额外授权(例如授权他们履行新任务,如处理所得税或集团的新实体。)


Changes in Income Tax Law of Bangladesh: Income Tax Return filing under the Self-Assessment scheme
The Bangladesh government has introduced the Income Tax Act 2023, replacing the Income Tax Ordinance 1984, to modernize and update the country's taxation system, effective from July 1, 2023. This Act mandates all taxpayers, including individuals, corporate bodies, and foreigners, to submit their income tax returns under the self-assessment scheme. Unlike the previous ordinance, which had two filing procedures, the new Act requires all taxpayers to file under the self-assessment procedure, simplifying the process and ensuring timely tax payment. The Act aims to expand the tax base, maximize revenue collection, and finance government expenditures. It introduces measures such as processing and auditing of self-assessment returns to detect errors, evasion, and avoidance. Additionally, it mandates proof of return submission for accessing government and non-government services. Overall, the Income Tax Act 2023 is poised to increase tax compliance, broaden the taxpayer base, and bolster revenue for the country's economic development.

孟加拉国所得税法的变化: 根据自我评估计划提交所得税申报表
孟加拉国政府推出《2023年所得税法》,法案于2023 年 7 月 1 日起生效,取代《1984年所得税条例》,以实现国家税收制度的现代化和更新。有关法案要求所有纳税人,包括个人、法人机构和外国人员,根据自我评估计划提交所得税申报表。有别与之前的两次备案程序之条例,新法案要求所有纳税人按照自我评估程序进行备案,简化流程并确保及时纳税。该法案旨在扩大税基、最大化增加收入并资助政府支出。该法案引入了自我评估回报的处理和审核等措施,以发现错误及逃税情况。此外,该法案也要求提交申报证明,以获取政府和非政府服务。总体而言,2023 年所得税法旨在提高税收合规性,扩大纳税人基础,并增加国家收入以推动经济发展。


The successful 2023 and the challenges of 2024
In the first quarter of 2024, Greece emerged as a beacon of economic resilience, defying earlier concerns and showing strong growth. Growth in 2023 appears to be close to 2.5%, while for the Eurozone it will not exceed 0.6%. A series of strategic reforms and disciplined fiscal policies contributed to the country's positive economic outlook and the recovery of the investment grade. Greece has a world first for 2023 which gives it a big boost in 2024 as well. From around 206% of GDP in 2020, Greek debt is expected to decline this year to around 160% of GDP and further by 9 percentage points in 2024.



Capital Gains Tax (CGT)
Capital Gains Tax (CGT) has arrived in Malaysia. The Finance (No. 2) Act 2023 was gazetted on 29 December 2023. A new Chapter 9 has been introduced in the Income Tax Act 1967 to impose a tax on gains or profits from the disposal of capital assets on or after 1 January 2024. Section 4 of the Income Tax Act 1967 is amended to include Section 4(aa) gains or profits from the disposal of capital assets.

资本利得税 (CGT)
资本利得税 (CGT) 已在马来西亚实施。《2023 年金融 (第 2 号) 法》于 2023 年 12 月 29 日在宪报颁布。《1967 年所得税法》引入新的第 9 章,对 2024 年 1 月 1 日或之后出售资本资产的收益或利润征税。1967 年所得税法第 4 条经过修订,增加第 4(aa) 条文,以纳入出售资本资产的收益或利润。


Nigeria’s 2024 Budget Analysis
The 2024 budget, titled “Budget for Renewed Hope”, was presented to the National Assembly by President Bola Ahmed Tinubu, GCFR on November 29, 2023.
The budget represents a collective effort to address the complexity of the rapidly changing global landscape while addressing domestic challenges.

尼日利亚 2024 年预算案分析
2023 年 11 月 29 日,总统博拉·艾哈迈德·蒂努布(GCFR)向国民议会提交2024 年预算案,主题为“重燃希望的预算案”。

E-invoicing for Fast Moving Consumer Goods (FMCG) and Wholesale
According to the SRO-28(I)/2024, the following registered persons shall transmit the sales tax invoices electronically in terms of rule 150Q of its Notification No. 1525(1) /2023 dated the 10th day of November 2023, which is effective on February 1, 2024.
•    All importers and manufacturers of fast-moving consumer goods,
•    All wholesalers (including dealers), distributors of fast-moving consumer goods and
•    All wholesaler-cum-retailers engaged in bulk import and supply of fast-moving consumer goods on a wholesale basis to the retailers.
Considering the new notices, manufacturers, importers, wholesalers, and distributors of fast-moving consumer goods will need to incorporate the Federal Board of Revenue (FBR)'s system for issuing electronic sales tax invoices.

根据SRO-28(I)/2024,以下注册人员应根据2023年11月10日第1525(I)2023 通知的第150Q规则以电子方式开具销售税发票,该通知于2024年2月1日生效。
•    所有快速消费品的进口商和制造商;
•    所有快速消费品的批发商(包括经销商)及分销商;
•    所有从事批量进口并向零售商批发快速消费品的批发商兼零售商。

Saudi Arabia
Bonded zones
The rules of bonded zones and customs regulations have been modified to benefit importers and exporters in logistics companies, by allowing them to deposit and store their goods without customs duties or taxes. This aims to increase financial liquidity and flexibility, facilitate the movement of goods, and promote trade activities.



Tax Updates in YA 2024
1. In Year of Assessment (YA) 2024, businesses have the option to accelerate capital expenditure for plant and machinery and renovation or refurbishment.
2. The Voluntary Disclosure Programme (VDP) has been updated to clarify the qualifying conditions to enjoy reduced or waiver of penalty.
3. There is a newly added section on the Tax Governance Framework and Tax Risk Management and Control Framework.
4. For Country-by-Country Reporting (CbCR), Kenya and Montserrat were added into the list of jurisdictions that have exchange relationships with Singapore.
5. Singapore has joined other jurisdictions to commence automatic exchanges in crypto-assets reporting in 2027.


2024 年的税务更新
1.     企业可选择加快厂房机器以及装修的资本支出。
2.     自愿披露计划 (VDP) 已阐明可获减轻或免除罚款的条件。
3.     税务监管和风险管理框架新增条文。
4.     就国别报告 (CbCR) 而言,肯尼亚和蒙特塞拉特新加至与新加坡有交流关系的税收管辖地名单。
5.     新加坡将在 2027 年与其他管辖地开始自动交换加密资产报告。



VAT Refund for Good Exporter
In the Value Added Tax (VAT) System, the amount of VAT submission comes from the difference of sales VAT and purchase VAT. In some cases, the sales VAT is lower than the purchase VAT. This means the Revenue Department will refund such difference in cash. The exporter will always ask for a refund of VAT due to the sales VAT is equal to zero. To get the refund without any investigation or less waiting time, the exporter should know the “good exporter practice”. This article will show the qualification and some procedures to practice.



Tax Updates in the Emirates: Embracing the New Normal
The UAE's corporate tax regime continues to evolve, with recent updates impacting businesses operating within the Emirates. Notably, the definition of Qualifying Free Zone Persons (QFZPs) has been clarified, offering greater certainty for companies operating in these zones. Additionally, comprehensive transfer pricing regulations have been released, requiring businesses engaged in related party transactions to document pricing policies and adhere to arm's length principles. These developments, alongside ongoing clarifications on exemptions and compliance procedures, underscore the importance of staying informed and adapting to the dynamic UAE tax environment.

阿联酋的企业税制不断发展,最近推出的更新正影响在阿联酋境内运营的企业。值得注意的是,合格自由区人士 (QFZP) 的定义已澄清,为在自由区内运营的公司增添确定性。此外,全面的转让定价法规已发布,要求从事关联方交易的企业记录定价政策并遵守独立交易原则。这些进展以及持续澄清豁免和合规程序,突显保持了解并适应阿联酋的动态税务环境之重要性。


Upcoming changes to tax-free income and UK reporting requirements for trusts, estates, and beneficiaries
Incoming simplification measures from 6 April 2024 will impact low-income trusts and estates that are UK resident or have UK income.
Trusts and estates will no longer need to report or pay tax on income within a new de minimis limit of up to £500 per tax year. This replaces an existing exemption on low-level savings income.
The Standard Rate Band of up to £1,000 for discretionary trusts will be removed. Non-resident trusts where their only UK income was dividends within this band will now have to report and pay tax on this if it exceeds the new £500 limit.


2024 年 4 月 6 日起即将实施的简化措施将影响英国居民或在英国取得收入的低收入信托和遗产。
在每个纳税年度最高 500 英镑的新最低限额内,信托和遗产将不再需要申报或缴纳收入税,取代低水平储蓄收入的现有豁免。
自由裁量信托最高 1,000 英镑的标准费率区间将被移除,如非居民信托的股息是在这一区间并且是非居民在英国的唯一收入,当超过最新的 500 英镑限额时,便需要申报并缴纳税收。