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[Premia TNC] Weekly Newsletter 2024 Vol.12

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 | Supporting People and Enterprises

The Financial Secretary proposes a one-time 100% reduction in profits tax, salaries tax, and tax under personal assessment for the 2023–2024 assessment year, capped at $3,000 per case. The reduction applies to each business for profits tax and is capped at $3,000 for married couples under joint assessment for salaries tax. Taxpayers eligible for personal assessment must complete Part 7 of their tax return, with only those with salary income exempt. The reduction will be applied to the final tax for 2023–2024 after the law’s enactment, with no need for applications or inquiries from taxpayers. Provisional tax for 2023–2024 is not affected, and any remaining balance after payments will be reimbursed.

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🤔 Singapore | Singapore vs Australia: A Comparative Summary

Gain insights into key factors, from population and GDP to tax structures, workforce, and quality of life. Make informed decisions when you explore the business landscapes of Singapore and Australia to nail down where you should establish and grow your business.

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📈 Taiwan | Taiwan’s Tax Regulation Improvement Plan for 2024

Minister Chuang Tsui-Yun of the Ministry of Finance presented the 2024 improvement plans to legislators on March 7, outlining changes to five tax regulations. These include shifting tax withholding responsibilities to companies under the Income Tax Act, extending non-tax-resident withholding tax filing deadlines by 5 days during three-continuance national holidays, introducing regulations and penalties for companies failing to upload EGUI information under the Value-added and Non-value-added Business Tax Act, removing the minimum penalty rate under the Tobacco and Alcohol Tax Act, and reducing penalty rates under the Vehicle License Tax Act and certain penalties under the Land Tax Act from 2% to 2% and below.

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🛎️ Vietnam | Vietnam Prepares to Welcome the Fourth FDI Boom

In 2023, Vietnam saw a significant increase in FDI, reaching a record high of US$36.6 billion in registered investment capital and US$23.18 billion in disbursements. The focus shifted towards high-quality investments, particularly in high-tech sectors like electronics and semiconductor production. This surge was attributed to effective economic diplomacy efforts. Looking ahead to 2024, Vietnam aims to further attract high-quality FDI, especially in the semiconductor supply chain, leveraging its stable political environment, strategic location, incentives, skilled workforce, and digital infrastructure. The government’s commitment is evident through policies supporting semiconductor industry development and collaborative agreements with major U.S. chip designers.


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💼 Malaysia | Personal Data Protection Act 2010 (PDPA)

The Personal Data Protection Act 2010 (PDPA), effective December 15, 2013, regulates the processing of personal data in commercial transactions. It aims to balance the protection of individuals’ personal data with the legitimate needs of organizations. By establishing a data protection framework, it aims to prevent misuse of personal data and maintain trust in data management. Non-compliance incurs penalties of up to RM300,000 and/or imprisonment for two years under Section 5. Certain institutions must register with the PDPA, facing fines of up to RM500,000 and imprisonment for three years for violations under Section 16. Additionally, transferring data outside Malaysia without authorization can result in fines of up to RM300,000 and/or imprisonment for two years under Section 129.


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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 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 Malaysia Webinar

Explore Essential Perspectives on Navigating Legal Compliance for Businesses in Malaysia

Discover Insights on Navigating Legal Compliance for Businesses in Malaysia!

Attend our webinar on March 28, 2024, for valuable information, free consultations, and comprehensive materials to enhance your understanding of the need to be a legally compliant business in Malaysia.

Secure your booking today!



Date: Thursday, March 28, 2024, 2:00 – 3:00 PM
Target companies: Clients looking forward to Legal Compliance for Businesses
Speaker: Consultant – Mandy

→ Webinar participation application link

Premia TNC News

Premia TNC March Holiday Notice

Welcome March with renewed energy and enthusiasm! May this month bring you success, growth, and a wealth of positive experiences. 🌟

Check Our Complete Schedule for March

🗞️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]