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[Premia TNC] Weekly Newsletter 2024 Vol.20

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 | Reducing Profit Tax, Salary Tax, and Tax Under Personal Assessment for 2023/24

The Financial Secretary has proposed a one-time reduction of profits tax, salaries tax, and tax under personal assessment for the 2023/24 assessment year, with a maximum of $3,000 per case. The reduction applies fully to profit tax for all businesses, with a cap of $3,000 per individual taxpayer or married couple filing jointly under personal assessment. Taxpayers eligible for personal assessment must complete Part 7 of their tax return. The reduction will be reflected in final assessments for 2023/24 after enactment, with no need for additional applications. Tentative tax is not affected, so timely payment of provisional tax is still required, with adjustments made accordingly.

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👩‍💼 Singapore | Labor Market Advance Release: First Quarter 2024

In the first quarter of 2024, the labor market sustained growth, though at a slower pace. Total employment, excluding migrant domestic workers, increased by 4,900, primarily driven by resident employment. Retrenchments decreased for the second consecutive quarter to 3,000, with business reorganization and restructuring being the main reasons. Unemployment rates saw a slight uptick in March 2024 but remained within pre-pandemic levels, indicating ongoing tightness in the labor market.

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💱 Taiwan | Moody’s and Standard & Poor’s Rates Maintain Stability

Moody’s maintains Taiwan’s Aa3 rating with a stable outlook, highlighting the effectiveness of fiscal and monetary policies amid global pressures. The report underscores stable economic policies bolstering resilience against external shocks, though geopolitical risks persist and aging demographics pose long-term challenges. Similarly, S&P affirms Taiwan’s AA+ rating with a stable outlook, emphasizing its strong external position and robust fiscal management.

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🇻🇳 Vietnam | Vietnam Remains Charming for Foreign Investors

Paulo Medas, the IMF’s Vietnam head, notes the country’s allure for investors despite global instability, citing its 5.66% Q1 and 2024 growth and rising exports. Despite risks from low domestic demand, the IMF forecasts nearly 6% growth this year with government support. Medas advises cautious fiscal policy amid inflation, suggesting interest rate adjustments. Vietnam’s appeal amid shifting supply chains warrants ongoing improvements in the business environment, administrative efficiency, infrastructure, especially in green energy, and innovation promotion.


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🏢 Malaysia | Companies (Amendment) Bill 2023 [Issue 1 of 3]

The Companies (Amendment) Bill 2023, passed through multiple readings in Parliament and approved by the Dewan Negara, aims to bolster the corporate rehabilitation framework, assist financially distressed companies, and enhance economic competitiveness. It emphasizes transparency in beneficial ownership reporting to combat money laundering, terrorist financing, and corruption, aligning with FATF/OECD evaluations in 2024/2025.


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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 Vietnam Webinar

Foreign Loan Strategies and Documentation for FDI Enterprises in Vietnam 

Discover Insights on Foreign Loan Strategies and Documentation for FDI Enterprises in Vietnam!
Attend our webinar on May 31, 2024, for valuable information, free consultations, and comprehensive materials to enhance your understanding of foreign loan strategies and more in Vietnam. Secure your booking today!

<Vietnam 🇻🇳>

Date: Thursday, May 31, 2024,  2:00 – 3:00 PM
Target companies: Clients looking for methods and notes on foreign loans of FDI companies in Vietnam
Speaker: Consultant – Iris

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Premia TNC May News

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Premia TNC May Holiday Notice

Welcome May with open arms and an inspired heart! Let this month be filled with bright possibilities, happiness, and enriching experiences. 🌷

Check Our Complete Schedule for May

🗞️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]