Weekly Newsletter 2025 Vol.80
Premia TNC E-Newsletter
Establishing international corporations and managing tax accounting information.
Tackling worldwide challenges and embracing global trends simultaneously!
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💡Weekly E-Newsletter
📊 Hong Kong | IASB Publishes Third Edition of IFRS for SMEs
The third edition of the IFRS for SMEs Accounting Standard, issued by the IASB on February 27, 2025, introduces significant updates to align with full IFRS while maintaining simplicity for SMEs. Key changes include revised requirements for cash flow statements (Section 7), consolidation (Section 9), financial instruments (Section 11), and a new section on fair value measurement (Section 12). Business combinations (Section 19) and revenue recognition (Section 23) have been updated to reflect IFRS 3 and IFRS 15, respectively, with simplifications. The incurred loss model is retained, and goodwill continues to be amortized. The standard is effective for annual periods beginning on or after January 1, 2027, with retrospective application and available transition relief. Topics like leases, regulatory deferral accounts, and cryptocurrency remain unchanged for now.
🔒 Singapore | Regulatory Regime for Digital Token Service Providers
Effective 30 June 2025, the Monetary Authority of Singapore (MAS) requires all Digital Token Service Providers (DTSPs) offering services related to digital payment tokens or capital markets products exclusively to overseas clients to be licensed under the Financial Services and Markets Act 2022 (FSMA). This move addresses significant money laundering and terrorism financing risks, with licenses granted only under strict conditions. Existing licensees serving Singapore clients may continue operating under current approvals, while services involving only utility or governance tokens remain outside FSMA’s scope. MAS emphasizes this is a continuation of its regulatory stance, reinforcing Singapore’s commitment to financial integrity and its reputation as a trusted global financial hub.
📉 Taiwan | MOF Advisory on Commonly Underreported Corporate Income
The National Taxation Bureau of the Northern Area has issued a notice highlighting common cases of underreported income in corporate income tax filings to help businesses avoid penalties. Key examples include refunded labor retirement reserve funds, exercised subscription rights, overseas income, government subsidies, insurance compensation, and tax refunds, all of which must be properly reported as income in the relevant tax year. Businesses are urged to review their filings and voluntarily correct any underreporting by submitting supplementary returns and paying owed taxes with interest, in accordance with Article 48-1 of the Tax Collection Act.
🏛️ Vietnam | Vietnam National Assembly Approves Resolution for International Financial Center
Vietnam’s National Assembly has issued a resolution to establish an International Financial Centre (IFC) with special mechanisms to attract capital, technology, modern management, and high-quality human resources. The resolution promotes investment in financial services such as banking, fintech, digital assets, insurance, and e-commerce, while supporting green and sustainable projects. It aligns Vietnam’s financial services with international standards and enhances global integration. For transactions involving foreign parties, foreign laws may apply unless they conflict with Vietnam’s fundamental legal principles, while real estate-related transactions must follow the laws of the country where the property is located.
📧 Malaysia | E-Invoice Rollout Timeline
The Inland Revenue Board of Malaysia (LHDN) has revised the implementation timeline for the mandatory electronic invoicing (e-Invoice) system, introducing a phased rollout based on annual business revenue to ensure a smooth and equitable transition. Effective from 1 August 2024, businesses earning over RM100 million will be the first to comply, followed by those with revenues between RM25 million and RM100 million on 1 January 2025, RM5 million and RM25 million on 1 July 2025, RM1 million and RM5 million on 1 January 2026, and finally, businesses earning up to RM1 million on 1 July 2026. Each phase includes a six-month grace period to support technical adaptation. LHDN urges businesses to begin system upgrades, engage certified solution providers, and conduct internal training early to ensure compliance and minimize operational disruptions, reinforcing Malaysia’s commitment to tax digitalization.
🌦️ Dubai | UAE Expands Golden Visa to Attract AI, Climate, and Tech Talent
The UAE has shifted its Golden Visa strategy from attracting wealthy investors to targeting skilled professionals in high-growth sectors like AI, climate tech, and cloud computing. While 158,000 visas were issued in Dubai in 2023, 60% went to professionals. The program now emphasizes long-term economic value by recruiting experts in tech, finance, and sustainability. New categories include scientists, top graduates, coders, and entrepreneurs, offering flexibility such as job changes or business launches without affecting residency. This strategic pivot aligns with the UAE’s economic diversification and global investment influx, making it a top destination for elite talent.
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<Hong Kong>
Date: Wednesday, July 23, 2025, 4:00 PM – 5:00 PM
Target companies:
Entrepreneurs, investors, professionals, and families looking to relocate or expand to Hong Kong and seeking a simplified, strategic approach to securing the right visa.
Premia TNC July News
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Premia TNC July Holiday Notice
A month to bloom, grow, and celebrate how far we’ve come. The best is yet to come! 🌸🌞
🗞️Writer: Faraaz
🗞️Productor: Julia ⋅ Felice
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PREMIA TNC LIMITED / KORCHINA TNC CPA LIMITED
Founded in 2003, Premia TNC operates in Hong Kong, Singapore, Vietnam, Taiwan, Malaysia, Korea, and Dubai.
We provide consulting and accounting services, including corporate establishment, management, accounting, tax advice, and auditing.
Unit 706, 7/F, Tower 2, South Seas Centre, 75 Mody Rd, Tsim Sha Tsui, Hong Kong
TEL (+852) 6484 3419
[email protected]
