[Premia TNC] Weekly Newsletter 2024 Vol.3
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 | FTA to Cover More Product Categories
Hong Kong expanded its ASEAN FTA on January 9, 2024, tripling the number of covered product categories to 600. This benefits Hong Kong businesses with a broader origin status, impacting jewelry, medicaments, food, and textiles. The move aims to enhance trade by offering preferential tariff treatment. ASEAN is Hong Kong’s second-largest trading partner, and the FTA is crucial for strong trade ties. Both parties commit to prompt protocol implementation, emphasizing Hong Kong’s strategic efforts to fortify economic ties with ASEAN.
🏢 Singapore | IRAS – Investment Holding Companies
An investment holding company can deduct expenses incurred for generating investment income, including direct, statutory, and allowable expenses. However, capital expenses and those associated with non-income-producing investments are not deductible. The company cannot claim capital allowances, carry forward losses, or make group relief claims. While ineligible for full tax exemption, it may qualify for partial tax exemption.
🧾 Taiwan | Business Base Choices: Considerations for Setting Up in a Personal Residence
Under Article 14 of the Income Tax Act, if an owner, shareholder, or relative lends their property to the company for business without charge, taxes are imposed based on the ‘local general rent situation.’ Whether it is one’s own home or a friend or family member’s, it is advised to sign a lease agreement to ensure legal compliance.
⚖️ Vietnam | Nghe An: Awarded Investment Policy for 6 Projects Worth 390 Million USD
Nghe An province recently awarded investment registration certificates for six projects totaling $390 million, including domestic and foreign ventures in high-tech, components, electronic equipment, and green energy sectors. Notably, the province has approved 23 projects with a total registered capital of 26,656 billion VND and attracted $1.603 billion in foreign direct investment in 2023, ranking 8th nationwide.
📈 Malaysia | Implementation of 8% Sales and Service Tax
Starting March 1, 2024, Malaysia will adjust the SST rate from 6% to 8% per the Service Tax Regulation. We are working to minimize the impact on service pricing. For queries, email [email protected] or [email protected].
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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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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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 News
Premia TNC January Holiday Notice
Wishing you a promising start to 2024. May this new year bring fulfillment to all your aspirations and dreams. ✨
🗞️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]
