Australia
APRA Released Nine Updated Reporting Standards on the Superannuation Data Transformation Project
On May 23rd, 2023, APRA determined nine updated reporting standards on the Superannuation Data Transformation project. The standards include amendments that clarify investment option reporting and expenses reporting, reduce frequency of reporting for some requirements, and increase the data submission time for some requirements.
Hong Kong
HKMA Basel III Final Reform Package
On May 31st, 2023, HKMA issued a letter to consult the banking industry on the implementation of the Basel III final reform package – credit risk framework and output floor. Consultation is open for opinions which shall be submitted by July 14th, 2023. The amendments are intended to come into effect on January 1st, 2024.
OECD TIN rules update for Hong Kong
The ‘Hong Kong -TIN’ file has been updated on the OECD website.
The TIN structure remained unchanged.
The only changes are the updated “Contact point for further information” section.
Malaysia
Regulatory Reminder for FATCA: IDES Testing Schedule
The FATCA International Data Exchange Service (IDES) opens for testing from Monday, June 5th, 2023 through Friday, June 30th, 2023.
The test session will be open to users that have completed their IDES enrollment by Thursday, June 1st, 2023.
Maldives
OECD TIN rules update for Maldives
The ‘Maldives -TIN’ file has been updated on the OECD website.
The TIN structure remained unchanged.
The “Contact point for further information” section and a link to an online verification tool for GST TINs have been updated. (https://www.mira.gov.mv/Pages/View/gstlookup).
Macau
OECD TIN rules update for Macau
The ‘Macau -TIN’ file has been updated on the OECD website.
The TIN structure remained unchanged.
The “Contact point for further information” section has been updated.
Nauru
OECD TIN rules update for Nauru
The ‘Nauru -TIN’ file has been updated on the OECD website.
The TIN structure remained unchanged.
The sections “TIN Description”, “Additional information on the mandatory issuance of Tax Identification Numbers (TINs)”, “Where to find TINs”, “TIN information on the domestic website”, and “Contact point for further information” have been updated.
Korea
OECD TIN rules update for Korea
The ‘Korea -TIN’ file has been updated on the OECD website.
The TIN rule for Entities (added information about Corporation Registration Number), as well as the links and the “TIN information on the domestic website” section, have been updated.
