[Premia TNC] Weekly Newsletter 2024 Vol.17
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 | LegCo to Consider Stamp Duty (Amendment) Bill for 2024
The Legislative Council (LegCo) will convene on Wednesday, April 10, at 11 a.m. in the LegCo Complex Chamber to continue the Second Reading debate on the Stamp Duty (Amendment) Bill 2024 and the Waterworks (Amendment) Bill 2023. If approved, these bills will proceed to the committee of the entire Council for further consideration before scheduling for Third Reading. Additionally, the Dentists Registration (Amendment) Bill 2024 and the Inland Revenue (Amendment) (Tax Concessions for Intellectual Property Income) Bill 2024 will be introduced for their First and Second Readings, respectively, with the Second Reading discussions concluding during the session.
🖇️ Singapore | Singapore vs. United Kingdom: A Comparative Summary
Navigating business in Singapore and the UK requires understanding their distinct advantages. Singapore offers efficiency, skilled talent, and favorable taxes, while the UK boasts a mature landscape rich in innovation despite Brexit uncertainties. Careful consideration of regulatory compliance and cultural dynamics is essential for maximizing growth potential in both jurisdictions.
💱 Taiwan | Summary of Disaster Loss Tax Deductions and Exemptions
In the event of a disaster, individuals should file for personal income tax and personal disaster losses within 30 days, while profit-making enterprises must do the same for corporate income tax and disaster losses. Small-scale businesses affected by the disaster can deduct the days of halted operations from their VAT or business tax, and the entertainment industry can deduct non-operating days from their entertainment tax. For commodities tax, affected parties can apply for a refund or cancellation of tax paid on destroyed goods within 30 days. Similarly, tobacco and alcohol taxes can be refunded or canceled for damaged products, with relevant inquiries directed to the tax bureau’s toll-free number: 0800-000-321.
📈 Vietnam | FDI Capital Flows Strongly Into Textile Projects
In February 2024, Yi Da Denim Mill (VN) Co. Ltd. secured an Investment Registration Certificate from the Provincial Industrial Zones Management Board in Nam Dinh to establish a textile production project in Rang Dong Textile Industrial Park. The project, backed by Crystal Group from Hong Kong, boasts a total registered capital of 1,467 billion VND, split into three phases. Phase I, with an investment exceeding 880 billion VND, will focus on dyed and undyed fabric and clothing production, commencing official operations in the third quarter of 2026. Meanwhile, YKK, the world’s leading zipper company, inaugurated a second, more advanced factory in Vietnam’s Dong Van Industrial Park (Ha Nam), reflecting their significant growth over 25 years in Vietnam, with a workforce now totaling 2,800. With the influx of FDI in the textile sector, spearheaded by projects like SAB Group’s recent venture in Thanh Hoa, Vietnam’s textile and garment exports are rebounding, showcasing a promising trajectory with over 60% of total export turnover attributed to FDI enterprises.
🌎 Malaysia | AMLA: Company Secretary Reporting Guidelines
The collaboration between the Securities Commission Malaysia (SSM) and Bank Negara Malaysia (BNM) under Act 613 emphasizes Malaysia’s commitment to stringent anti-money laundering and counter-financing of terrorism (AML/CFT) measures. This partnership aims to regulate and supervise company secretaries and trust companies effectively, positioning Malaysia as a regional leader in preventing financial malpractice within ASEAN. The SSM’s guidelines outline the obligations of company secretaries as Reporting Institutions under the Anti-Money Laundering, Anti-Terrorism Financing, and Proceeds of Unlawful Activities Act 2001 (AMLA), with objectives to establish requirements for preventing and combating money laundering and terrorism financing while aiding company secretaries in implementing a risk-based approach to managing ML/TF risks.
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.
🆕 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.
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!
🌟 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.
🌟 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.
🌟 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.
⭐ 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.
⭐ 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.
Premia TNC April News
Stay Ahead with Our Latest Updates!
Get curated content delivered straight to your inbox, tailored to your interests and preferences. Subscribe to our newsletter today and never miss a beat in your industry.
Premia TNC April Holiday Notice
Welcome March with renewed energy and enthusiasm! May this month bring you success, growth, and a wealth of positive experiences. 🌟
🗞️Writer: Faraaz
🗞️Productor: Julia ⋅ Felice
How was the e-newsletter this week?
Feel free to share your thoughts!
Good 😃 l Not So Good 😕
We look forward to welcoming you next week with insights into emerging business trends.
Kindly consider introducing Premia TNC to your network.
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]
