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Singapore – The Responsibilities of Nominee Directors in Singapore
When it comes to setting up a company in Singapore, a common practice is the appointing of nominee directors. These are individuals appointed by a company to act as a director on its board. However, they typically have no active role in the company's management and are often appointed for specific purposes, such as meeting regulatory requirements.
Taiwan – Asset Revaluation applies on February onwards
When the Producer Price Index(PPI) increases by more than 25%, profit-making enterprises may apply for asset revaluation if they acquire assets in such years. The revaluation difference is exempted from income tax on income, and depreciation, depletion or amortization may be added in accordance with regulations.
Malaysia – Termination of Service
Where the employer is about to cease to employ an employee who is or is likely to be chargeable to tax in respect of income from the employment or an employee under his employment dies, the employer is required to furnish Form CP22A / CP22B not less than 30 days before the cessation of employment or not more than 30 days after being informed of the death.
Hong Kong – Understanding Holiday Journey Benefits in Hong Kong’s Salaries Tax
In Hong Kong, personal tax usually refers to salaries tax. This article provides you with an overview of Hong Kong’s salaries tax on how to handle Holiday Journey Benefits.
Vietnam – Vietnam shall Impose Global Minimum Tax from 2024
Starting from January 1st, 2024, Vietnam will impose a global minimum tax, and the National Assembly has tasked the Government with researching and establishing a fund to support investments in the high-tech sector for the following year.
[#3] Weekly Newsletter 2024 Vol.3 (Hong KongㅣSingaporeㅣTaiwanㅣVietnamㅣMalaysia) 🏢
A Glance At Singapore Variable Capital Company Structure...
Can I Set Up a Company at a Self-used Residence or a Friend's/family Member's Home, and is a Lease Agreement Necessary?
Taiwan – Business Base Choices: Considerations for Setting Up in a Personal Residence
Under Article 14 of the Income Tax Act, if an owner, shareholder, or relative lends their property to the company for business without charge, taxes are imposed based on the 'local general rent situation.' Whether it is one's own home or a friend or family member's, it is advised to sign a lease agreement to ensure legal compliance.
Hong Kong - FTA to Cover More Product Categories
Hong Kong – FTA to Cover More Product Categories
Hong Kong expanded its ASEAN FTA on January 9, 2024, tripling the number of covered product categories to 600. This benefits Hong Kong businesses with a broader origin status, impacting jewelry, medicaments, food, and textiles. The move aims to enhance trade by offering preferential tariff treatment. ASEAN is Hong Kong's second-largest trading partner, and the FTA is crucial for strong trade ties. Both parties commit to prompt protocol implementation, emphasizing Hong Kong's strategic efforts to fortify economic ties with ASEAN.
Singapore – IRAS – Investment
Singapore – IRAS – Investment Holding Companies
An investment holding company can deduct expenses incurred for generating investment income, including direct, statutory, and allowable expenses. However, capital expenses and those associated with non-income-producing investments are not deductible. The company cannot claim capital allowances, carry forward losses, or make group relief claims. While ineligible for full tax exemption, it may qualify for partial tax exemption.
Malaysia - Implementation of 8% Sales & Service Tax
Malaysia – Implementation of 8% Sales & Service Tax
Starting March 1, 2024, Malaysia will adjust the SST rate from 6% to 8% per the Service Tax Regulation. We are working to minimize the impact on service pricing. For queries, email [email protected] or [email protected].
Vietnam – Nghe An: Awarded Investment
Vietnam – Nghe An: Awarded Investment Policy for 6 Projects Worth 390 Million USD
Nghe An province recently awarded investment registration certificates for six projects totaling $390 million, including domestic and foreign ventures in high-tech, components, electronic equipment, and green energy sectors. Notably, the province has approved 23 projects with a total registered capital of 26,656 billion VND and attracted $1.603 billion in foreign direct investment in 2023, ranking 8th nationwide.
[#2] Weekly Newsletter 2024 Vol.2 (Hong KongㅣSingaporeㅣTaiwanㅣVietnamㅣMalaysia) 💰
Capital Gain Tax (“CGT”) on Disposal of Unlisted Shares...

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