Weekly Newsletter 2025 Vol.92
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 | IRD Issues Updated Guidance on FSIE Matters
Under Hong Kong’s territorial source principle of taxation, certain overseas income and transactions are treated with specific tax implications. Profits from an overseas associate recognized under the equity method are not regarded as dividends until actually declared. Disposal gains allow deductions for direct costs but not expenses of a capital nature under section 17(1)(c) of the IRO. Redemption or conversion of bonds is not considered a “sale” and thus not a disposal gain, though redemption differences on discounted zero-rated bonds are treated as interest. Meanwhile, in-kind dividends in the form of shares from an overseas subsidiary with no Hong Kong nexus are generally not regarded as income received in Hong Kong.
📑 Singapore | IRAS Annual Report FY2024/25
The Inland Revenue Authority of Singapore (IRAS) collected a record $88.9 billion in tax revenue for FY2024/25, up 10.7% from the previous year and accounting for 76.9% of Government Operating Revenue and 12.2% of GDP. Beyond tax collection, IRAS disbursed over $1.3 billion in grants to 127,500 businesses and workers through schemes like PWCS, SEC, and CTO, while maintaining strong compliance with an arrears rate of just 0.66%. Key revenue drivers included Corporate Income Tax ($30.9b), GST ($20.0b), and Individual Income Tax ($19.1b). To enhance efficiency, IRAS advanced digital transformation with initiatives such as mandatory GST InvoiceNow (from Nov 2025), expanded eGIRO (95% adoption), and an upgraded myTax Portal. It also safeguarded compliance by conducting 8,600 audits and investigations, recovering $507 million in taxes and penalties.
💸 Taiwan | VAT Input Tax Not Deductible on Festival Gifts
With the Mid-Autumn Festival approaching, the Kaohsiung National Taxation Bureau reminds businesses that input tax on gifts purchased for clients, employees, or shareholders, such as mooncake gift boxes, is not deductible against output tax under the Value-Added and Non-Value-Added Business Tax Act, as such expenses are deemed non-business promotional or welfare in nature. Companies that mistakenly claim these amounts may face back taxes and penalties and are advised to voluntarily amend their VAT returns under Article 48-1 of the Tax Collection Act to mitigate further liabilities.
💡 Vietnam | FDI Attraction Continues Positive Developments Over 8 Months
In the first eight months of 2025, Vietnam attracted USD 26.14 billion in FDI, up 27.3% year-on-year, with adjusted capital surging 85.9% to USD 10.65 billion, reflecting growing investor confidence in the country’s stable policies and skilled workforce. Hung Yen led with over USD 300 million from new and adjusted projects, including a USD 1.4 billion expansion in Sub-zone A of the Urban Area North of National Highway 5, while Bac Ninh and Quang Ninh also recorded notable inflows. Despite an 8.1% decline in newly registered capital, new projects rose 12.6%, driven by small and medium-sized investors in technology and innovation. Disbursed capital hit a five-year high of USD 15.4 billion, reinforcing Vietnam’s appeal. With a 2025 FDI target of USD 38–40 billion and ongoing negotiations with global corporations in semiconductors and renewable energy, Vietnam’s challenge lies in shifting from cost-driven to high-quality investments through institutional reforms, infrastructure upgrades, and workforce development.
🌟 Malaysia | Employer Levy and Deregistration Criteria When Downsizing
Downsizing is often inevitable, but Malaysian employers registered under HRD Corp must remain compliant. Even if headcount falls below 10, compulsory category employers must continue contributing the 1% levy until formal deregistration is approved. Under Section 16(2) of the PSMB Act 2001, employers with fewer than 10 employees for three consecutive months may apply for deregistration by submitting Form 4A and the past three months’ EPF statements, ensuring no outstanding levy payments or ongoing training. Applications can be made via the E-TRiS System or email, and once approved, any remaining levy is transferred to HRD Corp’s General Reserve. Timely action and adherence are crucial to avoid penalties during restructuring.
✈️ Dubai | Passport Cover Page Required for Permit Applications
As of September 25, 2025, all UAE entry permit applicants, regardless of nationality or visa type, must submit a copy of their passport’s external cover page as part of the application process. The new requirement, confirmed by Amer Centres in Dubai and typing centers in Dubai and Abu Dhabi following an immigration department circular, applies to all new applications. Applicants are advised to verify the latest guidelines directly with the Federal Authority for Identity, Citizenship, Customs and Port Security (ICP: 600 522222) or GDRFA-Dubai (800 5111) before submission.
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Premia TNC Vietnam Webinar
Vietnam 2025 Tax Outlook: Risks and Cost Optimization
Are you ready for Vietnam’s new Corporate Income Tax Law No. 67/2025/QH15? Effective October 1, 2025, this landmark legislation will reshape the tax landscape for both local and foreign businesses. Join our exclusive webinar to gain expert insights on the latest updates and discover how to stay compliant while optimizing costs.
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Date: Friday, October 24, 2025, 2:00 PM (UTC+07:00)
Target companies:
By attending, you will gain insights into how the new law impacts your business and uncover legal strategies to optimize tax costs while mitigating risks, ensuring compliance and enhancing long-term financial stability for your organization.
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Premia TNC October Holiday Notice
Hello October! A new month, a fresh start. Let’s embrace the opportunities ahead and make it unforgettable! 🍂🎃
🗞️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]