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[Premia TNC] Weekly Newsletter 2024 Vol.25

Premia TNC E-Newsletter

Establishing international corporations and managing tax accounting information.
Tackling worldwide challenges and embracing global trends simultaneously!

 👀 Premium News - Quick Overview in 3 Minutes

💡Weekly E-Newsletter

🏢 Hong Kong | Interest on Tax Reserve Certificates 2024

The Secretary of Financial Services and the Treasury have approved a new annual interest rate of 0.8833% for Tax Reserve Certificates, effective June 3, 2024, down from the current 0.9250%. The interest, computed monthly from the purchase date until the tax payment deadline, accrues on certificates used to pay taxes, not on refunded principals. The rate, now adjusted monthly based on the average 12-month time deposit rate for $100,000 to $499,999 from three issuing banks, will apply to all certificates bought on or after June 3, 2024. Certificates bought before this date will retain the rates effective at their purchase times, with interest ceasing after 36 months.

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💼 Singapore | OpenAI Released GPT-4o and Additional Tools for ChatGPT

OpenAI’s latest flagship model, GPT-4o, is now available, offering enhanced GPT-4-level intelligence with improved speed and capabilities across text, voice, and vision. Users can take pictures, like menus in different languages, for translation and context understanding, and future updates will enable real-time voice and video interactions. GPT-4o supports over 50 languages, enhancing AI accessibility and usefulness globally. The rollout begins with ChatGPT Plus and Team users, with Enterprise users to follow, and starts today for Free users with usage limits, while Plus users have significantly higher message limits.

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🧾 Taiwan | Company Loan Shall Calculate Interest Income

When a company loans money to another without charging interest or at a rate below the benchmark interest rate published by Taiwan Bank, it must compute taxable interest income based on this rate (Article 24-3, Income Tax Act). For example, if Company A lent NTD 10 million to a shareholder interest-free on January 1, 2023, and the loan was unpaid by year-end, Company A should report taxable interest income of NTD 286,700, calculated using the 2.867% benchmark rate as of January 1, 2023. Companies must adjust their interest income per these provisions when filing annual income tax to avoid tax adjustments.

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🌍 Vietnam | Binh Duong to Carry Out Dialogues with FDI Enterprises in 4 Markets

The People’s Committee of Binh Duong Province has approved the 2024 Foreign Direct Investment (FDI) Dialogue Conference plan, aiming to engage with businesses from Japan, Taiwan, Korea, and English-speaking countries to address challenges and enhance investment conditions. The conferences are scheduled for June (Japan), July (Taiwan), August (English-speaking countries), and September (Korea). As of early 2024, China leads FDI in Binh Duong with $10.4 billion, followed by Japan ($5.9 billion) and Korea ($3.4 billion). Vice Chairman Mai Hung Dung highlighted that Binh Duong’s favorable investment environment, improved infrastructure, and quality human resources have driven FDI growth, with annual dialogues further fostering investment opportunities.


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💼 Malaysia | (AMLA – Issue 1)

In Malaysia’s dynamic financial regulatory landscape, the enhanced collaboration between the Commission of Malaysia (SSM) and the Central Bank of Malaysia (BNM), solidified on August 22, 2022, underscores a robust commitment to stringent anti-money laundering and counter-financing of terrorism (AML/CFT) measures under Act 613. This partnership strengthens the regulation and supervision of AML/CFT and targeted financial sanctions (TFS) on company secretaries and trust companies, positioning Malaysia as a regional leader in preventing financial malpractice within ASEAN. SSM’s guidelines aim to outline the obligations of company secretaries under the AMLA to prevent and combat money laundering and terrorism financing and to help them understand their roles as reporting institutions in implementing a comprehensive risk-based approach to managing these risks. Stay tuned for our upcoming newsletter for more details on these guidelines.

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Discover Our Newest Service!

🆕 Singapore | A Glance At Singapore Variable Capital Company Structure

Premia TNC proudly unveils its exclusive service for the establishment of Singapore Variable Capital Companies (VCC), an efficient umbrella structure meticulously designed for investment funds. Discover limitless expansion possibilities and unrestricted flexibility within this sophisticated framework, offering scalability, tax efficiency, and operational flexibility. Experience a professional suite of services tailored to guide you through the complexities, ensuring strategic leveraging of VCC advantages.

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🆕 Vietnam | Enhance Your Business with Vietnam Compliance Consultancy

Discover unparalleled Vietnam Compliance Consultancy Services from Premia TNC. Navigate regulatory landscapes seamlessly, ensuring your business thrives in Vietnam’s dynamic market. Contact us for expert guidance on sustainable success.

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Exclusive Markdowns!

🌟 Premia TNC Hong Kong x Cathay | Unlock Rewards that Take you Places When you Partner with Premia TNC to Earn Over 10,000 Asia Miles!

Embark on a rewarding journey for your business with PREMIA TNC x Cathay. Seize the opportunity to earn over 10,000 Asia Miles by joining our services. From enticing welcome offers to lucrative referral bonuses, every order placed successfully brings you closer to a world of unparalleled benefits. Grow your business and reap the rewards by elevating your success with PREMIA TNC!

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🌟 Premia TNC Hong Kong x Mastercard | Tailored Excellence and $500 Off! Elevate your Business with Premia TNC Hong Kong for This Exclusive Deal.

Get personalized corporate services at Premia TNC Hong Kong, designed for your unique needs. Our dedicated consultants handle tasks, letting you concentrate on growth. Enjoy a USD$500 discount using your Business Mastercard, unlocking 30% off premium accounting and tax filing services in Hong Kong.

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🌟 Premia TNC Taiwan x Mastercard | Propel your Business and Get $500 Off on us for the Personalized Success that Awaits you with Premia TNC Taiwan.

Experience personalized corporate services at Premia TNC Taiwan, tailored for your unique needs. Let our dedicated consultants manage tasks, freeing you to focus on growth. Take advantage of a USD$500 discount with your Business Mastercard, unlocking a 30% discount on premium accounting and tax filing services in Taiwan.

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🌟 Premia TNC Singapore x Vietnam | Masterplan your Expansion with Exclusive Markdowns for your Singapore Holding Company and Vietnam Subsidiary Ventures.

Unlock tax advantages in SG (territorial tax, 17% corporate tax) and VN (20%, DTAs, 0–17% incentives, loss carry-forward). Flourish in business-friendly environments with no withholding tax on dividends. Elevate your expansion strategy today, complemented by a limited-time discount with us.

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🌟 Premia TNC Singapore | Strike Off Your Company in Singapore With Significant Savings For Your Next Fresh Start

Striking off your company in Singapore can lead to substantial cost savings by eliminating ongoing operational expenses and compliance costs. This process simplifies administration by reducing corporate governance complexity, providing a definitive end that allows owners to move on, and mitigating the risks associated with maintaining a dormant company. Additionally, it improves cash flow, offers potential tax advantages, enhances operational efficiency, and avoids penalties, ensuring a streamlined and cost-effective business solution.

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🌟 Premia TNC Singapore | Streamlining Company Closure Through Hassle-Free Striking Off

Engaging Premia TNC for the striking-off process in Singapore offers significant benefits, ensuring a smooth and efficient experience. Their comprehensive service includes a thorough compliance review, the preparation of necessary documentation, and direct liaison with regulatory authorities, thereby eliminating the hassle for business owners. By handling tax waiver applications and resolving potential objections, Premia TNC helps avoid legal complications and saves valuable time. Their expertise ensures compliance with all legal requirements, providing a cost-effective solution for companies looking to dissolve their business operations without the stress and complexities of navigating the process alone.

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🌟 Premia TNC Singapore | Unlock Efficiency with Premia TNC: Industry-Leading Accounting and Bookkeeping Services in Singapore

Discover the key to streamlined financial management with Premia TNC’s comprehensive bookkeeping services in Singapore. From freeing up valuable time to ensuring regulatory compliance, our experienced team is committed to optimizing your business’s financial operations. Say goodbye to accounting headaches and welcome efficiency with Premia TNC.

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⭐ Premia TNC Singapore x Oasia Hotel Downtown | Enjoy Exclusive Corporate Rates at Oasia Hotel Downtown, Singapore!

Kick back and relax with our special corporate rates at the Oasia Hotel Downtown, Singapore, exclusively extended to all clients of Premia TNC Singapore Pte. Limited. Elevate your stay to a realm of refined luxury.

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⭐ Premia TNC Singapore x The Clan Hotel | Exquisite Corporate Privileges Await at The Clan Hotel, Singapore!

Indulge in the epitome of luxury with our premium corporate rates at The Clan Hotel, Singapore, exclusively curated for esteemed clients of Premia TNC Singapore Pte. Limited. Elevate your corporate stay to unparalleled sophistication.

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Premia TNC Singapore Webinar

Requirements for Employment Pass and Dependant Pass in Singapore

Gather all the necessary details about the requirements for employment passes and dependent passes in Singapore!

Attend our webinar on June 27, 2024, for valuable information, free consultations, and comprehensive materials to gain insights into the requirements set to obtain these passes in Singapore. Secure your booking today!


Date: Thursday, June 27, 2024 , 11:00 AM – 12:00 PM
Target companies: Clients looking for additional information on requirements for employment passes and dependent passes in Singapore
Speaker: Consultant – Luis

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Premia TNC Jun News

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Premia TNC June Holiday Notice

Greet June with warmth and optimism! May this month bring you new adventures, joy, and unforgettable moments. 🌷

Check Our Complete Schedule for June

🗞️Writer: Faraaz
🗞️Productor: Julia ⋅ Felice

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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]