[Premia TNC] Weekly Newsletter 2024 Vol.30
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 | GoGBA Sector Series
The “GoGBA” Seminar for the accounting sector, co-hosted by the Hong Kong Trade Development Council (HKTDC) and the Guangdong-Hong Kong-Macao Greater Bay Area Development Office, launched the “GoGBA Sector Series” to advance Hong Kong’s accounting field within the Greater Bay Area (GBA). Highlighting Hong Kong’s advantages under “one country, two systems,” including its free capital flow and low tax regime, Ms. Maisie Chan emphasized its role as a vital connector between global markets and Mainland China. The seminar featured presentations on tax benefits from the Qianhai Authority and Nansha District and offered practical insights from accounting professionals on expanding within the GBA. It included keynote addresses, panel discussions, and personalized advisory sessions to support professionals and businesses in leveraging GBA opportunities.
💲 Singapore | Over 900 Employers Prosecuted for YA 2023 with Penalties Exceeding $1 Million
Employers must submit 2023 employment income information to the Inland Revenue Authority of Singapore (IRAS) by 1 March 2024 to avoid penalties and prosecution. This applies to employers on the Auto-Inclusion Scheme (AIS) or those with five or more employees in 2023. Non-compliance can result in fines up to $5,000 for businesses and up to $10,000 and/or 12 months’ imprisonment for key personnel. In 2023, IRAS prosecuted over 900 employers, imposing penalties exceeding $1 million. Employers must ensure accurate submissions, as errors can incur penalties of up to twice the tax undercharged. Voluntary disclosure of errors can result in reduced penalties under IRAS’ Voluntary Disclosure Programme.→ Read More
💳 Taiwan | The Benefits of a Taiwan Employment Gold Card
The Employment Gold Card is an open work permit for individuals seeking employment in Taiwan without needing pre-confirmed hiring or employer application. Gold Card holders working in Taiwan for the first time can qualify for a 50% tax exemption on annual salary income exceeding NT$3 million for the first five years if they meet specific conditions. They may also apply for permanent residency after three years, with a Doctorate Degree from Taiwan counting towards this requirement. Additionally, Employment Gold Card holders engaged in professional work, as well as their dependents, can directly join the National Health Insurance system without the usual six-month wait.💵 Vietnam | FDI Capital into Export Processing Zones and Industrial Parks in Ho Chi Minh City Doubled
In the first six months of 2024, the Ho Chi Minh City Export Processing and Industrial Zones Authority (Hepza) attracted about $272 million in investment, nearly 50% of its annual target of $550 million, despite a 65.52% decline from the previous year’s $788.85 million. Domestic investment dropped sharply by 89.42% to $73.2 million, primarily due to the absence of large projects like Viettel’s $620 million investment last year. However, FDI in export processing zones (EPZs) and industrial parks increased significantly, with committed FDI reaching $198.82 million, twice as much as the same period last year, driven by nine active FDI projects increasing capital by $189 million. There were only 10 new FDI projects, with a total registered capital of nearly $10 million, a 73.46% decrease. The land leased in EPZs and industrial parks reached 5.05 hectares, with factory space for rent at over 24,900 m². Hepza plans to implement Pham Van Hai I and II Industrial Parks and pilot conversion projects for five zones to address the current shortage of contiguous land for large-scale investments.→ Read More
💼 Malaysia | Reporting on Employment Compliance in Malaysia [Issue 1 of 2]
In Malaysia’s dynamic economic environment, effective payroll management is crucial for business success, requiring meticulous adherence to legal and financial obligations. The Malaysian payroll system, governed by the Employment Act 1955, mandates precise wage computations, timely payments, and statutory contributions to the Employees Provident Fund (EPF), Social Security Organization (SOCSO), and Employment Insurance System (EIS). These regulations ensure fair compensation and social security for employees, making thorough payroll management essential for compliance and employee satisfaction. Stay tuned for our upcoming newsletter, where we will discuss reporting on employment compliance in Malaysia.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 | Strike Off Your Company in Singapore With Significant Savings For Your Next Fresh Start
Striking off your company in Singapore can lead to substantial cost savings by eliminating ongoing operational expenses and compliance costs. This process simplifies administration by reducing corporate governance complexity, providing a definitive end that allows owners to move on, and mitigating the risks associated with maintaining a dormant company. Additionally, it improves cash flow, offers potential tax advantages, enhances operational efficiency, and avoids penalties, ensuring a streamlined and cost-effective business solution.
🌟 Premia TNC Singapore | Streamlining Company Closure Through Hassle-Free Striking Off
Engaging Premia TNC for the striking-off process in Singapore offers significant benefits, ensuring a smooth and efficient experience. Their comprehensive service includes a thorough compliance review, the preparation of necessary documentation, and direct liaison with regulatory authorities, thereby eliminating the hassle for business owners. By handling tax waiver applications and resolving potential objections, Premia TNC helps avoid legal complications and saves valuable time. Their expertise ensures compliance with all legal requirements, providing a cost-effective solution for companies looking to dissolve their business operations without the stress and complexities of navigating the process alone.
🌟 Premia TNC Singapore | Unlock Efficiency with Premia TNC: Industry-Leading Accounting and Bookkeeping Services in Singapore
Discover the key to streamlined financial management with Premia TNC’s comprehensive bookkeeping services in Singapore. From freeing up valuable time to ensuring regulatory compliance, our experienced team is committed to optimizing your business’s financial operations. Say goodbye to accounting headaches and welcome efficiency with Premia TNC.
⭐ 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 Hong Kong Webinar
Hong Kong Company Formation and Maintenance
Gather all the necessary details about the formation process and the maintenance required for companies in Hong Kong!
Attend our webinar on July 31, 2024, for valuable information, free consultations, and comprehensive materials to gain insights into company formation and maintenance in Hong Kong. Secure your booking today!
<Hong Kong>
Date: Wednesday, July 31, 2024, 4:00 PM – 5:00 PM
Target companies: Clients looking for additional information on company formation and maintenance in Hong Kong
Speaker: Consultant – Irene
Premia TNC July News
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Premia TNC July Holiday Notice
Welcome July with open arms! May your days be bright and filled with joyous moments and fresh beginnings. 🌻
🗞️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]
