[Premia TNC] Weekly Newsletter 2025 Vol.63
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 | 2024/25: Tax Reductions for Profits, Salaries, and Personal Assessments
The Financial Secretary proposed a one-off 100% reduction of profits tax, salaries tax, and tax under personal assessment for the year of assessment 2024/25, capped at $1,500 per case. For profits tax, the ceiling applies to each business; for salaries tax, it applies to each individual taxpayer or married couple jointly assessed; and for personal assessment, it applies to each single taxpayer or married couple electing jointly. The reduction does not apply to property tax, but individuals with rental income may benefit under personal assessment. Taxpayers separately chargeable to salaries tax and profits tax can enjoy reductions under each type, while those electing for personal assessment will have reductions based on the tax payable under personal assessment. Eligible taxpayers should complete Part 7 of their tax return for individuals (BIR60) for 2024/25. The reduction will be applied in the final assessment upon enactment of the legislation, with reassessments made if necessary. It does not apply to provisional tax, which must still be paid on time.
💰 Singapore | Proposed Tax Incentives by Equities Market Review Group
The Equities Market Review Group, established in August 2024, has proposed tax-related measures to boost Singapore’s equities market. The Government has accepted these recommendations and will introduce three tax incentives: a Listing Corporate Income Tax Rebate for new corporate listings, an Enhanced Corporate Tax Rate for new fund manager listings, and a Tax Exemption on fund managers’ qualifying income from funds investing substantially in Singapore-listed equities. These incentives aim to encourage new listings and increase investment demand for Singapore-listed equities, with specific criteria and benefits outlined for each scheme.
The Listing Corporate Income Tax Rebate offers a 20% rebate for primary listings and a 10% rebate for secondary listings, subject to caps based on market capitalization. The Enhanced Corporate Tax Rate provides a 5% tax rate on qualifying income for fund managers achieving a primary listing. The Tax Exemption scheme offers tax exemption on qualifying income for fund managers meeting specific investment criteria. These schemes are open for award until 2027 or 2028, depending on the incentive, and are administered by EDB, EnterpriseSG, and MAS.
🏢 Taiwan | Online Sellers Must Register as Taxpayers and Pay Business Taxes
The National Taxation Bureau states that individuals selling goods or services online for profit are temporarily exempt from tax registration if their monthly sales revenue does not reach the business tax threshold (NTD100,000 for goods and NTD50,000 for services starting in 2025). However, if sales exceed these thresholds, they must register and pay business tax. With the rise of e-commerce, sellers on platforms like Shopee, Yahoo, and social media must monitor their sales to avoid penalties for tax evasion. For example, Mr. A, who sold clothing online, was exempt in January with NTD80,000 in sales but had to register in February after his sales surged to NTD150,000.
✉️ Vietnam | Prime Minister Calls for Abolishing 30% of Business Regulations in Telegram Message
On March 9, 2025, Prime Minister Pham Minh Chinh issued Dispatch No. 22/CĐ-TTg, directing ministries, agencies, and local authorities to focus on reducing administrative procedures, improving the business environment, and promoting socio-economic development. Key measures include cutting administrative processing time and costs by 30%, resolving business issues, advancing science, technology, and digital transformation, upgrading visa policies, supporting businesses through tax and credit policies, developing social housing, and ensuring Deputy Prime Ministers oversee implementation. This aims to foster sustainable economic growth and enhance administrative management.
💻 Malaysia | Meet Sehati: Simplifying Workplace Injury Claims Digitally
Introducing “Sehati,” a digital platform by PERKESO designed to streamline workplace injury claims with a user-friendly interface. Employees can quickly submit injury reports, access medical benefits, and manage treatment plans in line with PERKESO guidelines. The platform allows tracking of claim progress, ensuring all documentation is in place and the submission process is efficient. Real-time notifications keep employees updated on claim statuses, medical appointments, and required actions. To get started, download “Sehati” from the App Store or Google Play, log in with your credentials, and follow the steps to report injuries and manage claims.
💵 Dubai | FTA Hosts ‘Tax Hackathon’ to Drive Innovation in the Tax Sector
The Federal Tax Authority (FTA) organized the InnoTAX 2025 AI Hackathon on 26-27 February 2025 at Al Shindagha Museum, Dubai, as part of UAE Innovation Month and the Year of Community. The event aimed to develop innovative tax solutions using AI, big data, and cloud computing, fostering public-private collaboration. Participants included AI specialists, developers, university students, tax experts, and fintech innovators, focusing on enhancing taxpayer experience, compliance, and awareness. Director-General Khalid Ali Al Bustani emphasized the importance of innovation in improving the tax sector. The top three projects were recognized for their creativity, usability, technological advancement, and feasibility, highlighting the UAE’s leadership in digital transformation for a seamless tax system.
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Premia TNC March News
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Premia TNC March Holiday Notice
Hello, March! 🌸 A month of new beginnings and boundless possibilities—may this season bring you growth, joy, and fresh inspiration to bloom in every way. ✨🍃
→ Check Our Complete Schedule for March
🗞️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]
