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Malaysia – Tax Initiative for Individual
In Malaysia's 2024 budget, the government introduces expanded tax incentives for individuals, including a lifestyle tax relief of RM2,500 for self-improvement expenses, an extension of the RM2,000 education fees tax relief for upskilling courses until YA2026, a new RM1,000 tax relief for sports equipment and activities, and the inclusion of dental expenses up to RM1,000 in medical treatment tax relief for self, spouse, and child. Additionally, the tax relief for EV charging facilities is extended to YA2027, while tax relief for women returning to work is extended to YA2028. Further, medical expenses for parents, including full medical examinations, are now eligible for RM1,000 tax relief, and the tax exemption on children allowance received by employees has been raised from RM2,400 to RM3,000.
On February 21, the Quang Ninh Economic Zone Management Board awarded investment certificates to two foreign direct investment (FDI) projects worth over $330 million USD. Gokin Solar Company's $275 million USD project at Texhong Hai Ha Industrial Park will produce monocrystalline silicon panels and photovoltaic monocrystalline silicon bars, set to be completed by October 2025, while IKO Thompson Vietnam Co., Ltd. will invest $57 million USD in a bearings and linear motion equipment facility at Song Khoai Industrial Park (Amata), with phase 1 operations scheduled for January 2026. These projects, in processing-manufacturing and high-tech sectors, signal Quang Ninh's improved investment climate, aiming to attract $3 billion USD in FDI in 2024.
Individuals, legal entities, or organizations from mainland China, including those investing in Taiwan through a third-party company in another region, are subject to scrutiny. The third-party company is considered owned by Mainland Chinese businesses if they have a direct or indirect ownership of over 30% of shares or total capital, or if they possess control through agreements granting more than half of the voting rights, legal or contractual provisions controlling financial and operational policies, authority over appointing or removing principal members of the board, dominance in voting rights, or other criteria outlined in Financial Accounting Standards Bulletin No. 5 and No. 7 by the Foundation of Accounting Research and Development Institute, Republic of China.
IRAS has digitized 97% of tax notices since May 2021, promoting greener practices. 98% of Property Tax payers have opted for digital notices for greater convenience. Taxpayers can update preferences at IRAS myTax Portal. Paper notices will be minimized, with ongoing efforts to reduce paper usage. IRAS remains committed to partnering with taxpayers for a greener Singapore.
Following the "Policy Statement on the Development of Virtual Assets in Hong Kong" in October 2022, regulations for virtual asset service providers have been reinforced by the Securities and Futures Commission (SFC). Applicants must obtain licenses for specific activities, submit applications via the WINGS platform, pay the requisite fees, and gain approval. Additionally, regulatory measures are being extended to over-the-counter venues, and consultations with the Hong Kong Monetary Authority are underway to establish a licensing regime for stablecoin issuers to mitigate risks to monetary stability.
The Vietnamese Government has introduced incentives to encourage investments in the development of hi-tech parks. Coming into effect from March 25, Decree 10/2024/ND-CP regulates that hi-tech parks will be eligible for investment incentives equivalent to those applied to localities with extremely difficult socioeconomic conditions.
There are some important revisions that have been made to the Employment Act 1955 as of the year 2023. Everyone especially human resource business practitioners should look into the revision of the Employment Act 1955 to ensure that the business organization is aligned with the Employment Act all the time and that all employee's welfare is being taken care of.
For individual transfer shares, individuals shall file income from property transactions with actual selling amount . The transaction is not income from securities transactions.
The government will implement municipal solid waste charging (garbage charging) on August 1, 2024, according to the "polluter pays" principle, charging for the disposal of garbage in all sectors of Hong Kong based on quantity.
The Government Grants Tax Exemptions to Numerous Businesses and Individuals in Vietnam...
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Contact Us

Hello! We are located in 12 branches.

Hong Kong

PREMIA TNC LIMITED

Unit 706, 7/F, South Seas Centre Tower 2, No.75 Mody Road, Tsim Sha Tsui, Hong Kong

Contact Person

Angela Lo

Contact Number

Singapore

Premia TNC (Singapore) Pte. Ltd.

8 Marina View, #39-04 Asia Square Tower 1, Singapore 018960

Contact Person

Amy Tan
Luis Wong

Contact Number

Taiwan

Premia TNC (Taiwan) Ltd.

18F-2, No.163, Sec. 1, Keelung Rd, Xinyi Dist, Taipei City 110, Taiwan (R.O.C)

Contact Person

Wells Lee

Contact Number

Vietnam (Hanoi)

Premia TNC (Vietnam) Co. Ltd.

4/F, Epic Tower, Alley 19, Duy Tan Street, My Dinh 2 Ward, Nam Tu Liem District, Hanoi, Vietnam

Contact Person

Vincent Truong

Contact Number

Vietnam (Ho Chi Minh)

Premia TNC (Vietnam) Co. Ltd.

3/F, Sonatus Building, 15 Le Thanh Ton Street, Ben Nghe Ward, District 1, Ho Chi Minh City, Vietnam

Contact Person

Vincent Truong

Contact Number

Malaysia (Johor Bahru)

Premia TNC (Malaysia) Sdn. Bhd.

G-05, Residensi Eko,Jalan Eko Botani 3/5, Taman Eko Botani, 79100 Iskandar Puteri, Johor Darul Takzim, Malaysia.

Contact Person

Lily Lim

Contact Number

Malaysia (Kuala Lumpur)

Premia TNC (Malaysia) Sdn. Bhd.

Suite 6-1, Level 6, Lobby A, Wisma UOA II, No. 21 Jalan Pinang, 50450 Kuala Lumpur

Contact Person

Mandy Siew

Contact Number

Korea

Premia TNC Korea Limited

5F, K-Square, 161 Yanghwa-ro,
Mapo-gu, Seoul, South Korea

Contact Person

Jennifer Seo

Contact Number

China

Premia TNC (Xiamen) Limited

Room 2501, Ocean Mansion, No.268 Lujiang Road, Siming District, Xiamen, Fujian, China

Contact Person

Vicky Lin

Contact Number

Dubai

Premia TNC (Middle East) - FZCO

Opal Tower, 7th Floor, Units 701-705, Burj Khalifa Boulevard, PO BOX 126732 Business Bay, Dubai - UAE

Contact Person

Irene Tsang
Catherine Kim

Contact Number

India

Premia TNC India Limited

A40, Sector80, PhaseⅡ, Noida, Dist.Gautam Budha Nagar, UP 201305 India

Contact Person

Hema Sehgal

Contact Number

Indonesia

Premia TNC Indonesia Limited

One Pacific Place 15th Floor
Jl. Jend. Sudirman Kav.
52-53 Jakarta 12190 Indonesia

Contact Person

Indonesia PIC

Contact Number