[Premia TNC] Weekly Newsletter 2024 Vol.31
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 | Documents Required for Letter of Credit
A Letter of Credit (L/C) ensures security for both buyer and seller regarding delivery and payment. To receive payment, the exporter must present the required documents specified by the L/C, often including an original bill of lading. The list and form of documents are negotiable and may include those from neutral third parties verifying the quality or origin of goods. Typical documents include financial documents (bill of exchange), commercial documents (invoice, packing list), shipping documents (bill of lading, airway bill, etc.), official documents (licenses, certificates), and insurance documents (policy or certificate). Payment by the negotiating bank relies on the strict compliance of these documents with the L/C terms and the UCP600 rules.→ Read More
💴 Singapore | IRAS – Tax Clearance (IR 21) for Non-Singapore Citizen Employees
Employers in Singapore must notify IRAS at least one month in advance and withhold all due payments when a non-Singapore citizen employee ceases employment, goes on an overseas posting, or plans to leave Singapore for more than three months. Tax clearance is not required for Singapore citizens, SPRs not leaving permanently with a Letter of Undertaking (LOU), or non-citizens meeting specific criteria, such as working ≤ 60 days in a year or earning < $21,000 under certain conditions. Employers must file Form IR21 via myTax Portal, hold payments until IRAS issues clearance, and report income via Form IR8A or AIS by March 1st of the following year. Non-compliance or late filing can result in fines up to $1,000, necessitating timely and accurate adherence to guidelines.→ Read More
🆘 Taiwan | Government Support for Businesses Affected by Typhoon Gaemi
In response to the severe flooding caused by Typhoon Gaemi in Taiwan, the government has introduced several support measures to aid affected businesses. The Tax Bureau allows impacted companies to apply for tax deductions by submitting photographs and property purchase documents within 30 days. The National Property Administration offers rental fee discounts for affected properties, permits maintenance work on government-owned buildings, and suspends overdue rental fees. Customs support includes exemptions from duties for damaged zero-value imported goods, duty-free and expedited processing for emergency supplies, cancellation of duties for damaged bonded goods, and an extension of the tax offset/refund period for export goods to one year. These initiatives aim to alleviate the financial burden on businesses and support their recovery efforts. For further details and assistance, businesses should contact the relevant government agencies.
🏭 Vietnam | Foxconn to Produce Nintendo Switch from Quang Ninh
In early July, Quang Ninh province granted an Investment Registration Certificate (IRC) to Foxconn Group for two projects totaling $551 million, including the production of smart entertainment products. This includes 4 million Nintendo Switch game consoles per year, along with various drone components. Investment preparation will take place from July to December 2024, with construction from January 2025 to June 2026, followed by equipment installation and environmental permits from July to September 2026. Trial operations are set for October to December 2026, with full operations beginning in January 2027, and the project will employ approximately 1,200 people.→ Read More
🧑💼 Malaysia | Reporting on Employment Compliance in Malaysia [Issue 2 of 2]
Navigating Malaysia’s payroll regulations involves managing contributions to the Employees Provident Fund Organization (EPF) for retirement savings, ensuring compliance with the Social Security Organization (SOCSO) for workplace injury, occupational disease, and unemployment protections, and accurately handling tax deductions and remittances through the Inland Revenue Board (IRB). By adhering to these regulations, leveraging technology, and committing to continual improvement, employers can effectively manage payroll challenges, meet legal standards, and foster a satisfied, loyal workforce essential for success in Malaysia’s competitive market.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 Taiwan Webinar
Taiwan Yearly Filings with Government and Tax Compliance
Gather all the necessary details about the yearly filings with government and tax compliance required in Taiwan!
Attend our webinar on August 26, 2024, for valuable information, free consultations, and comprehensive materials to gain insights into filing and tax compliance in Taiwan. Secure your booking today!
<Taiwan>
Date: Monday, August 26, 2024, 11:00 AM – 12:00 PM
Target companies: Clients looking for additional information on yearly filings with the government and being tax compliant in Taiwan.
Speaker: Consultant – Sharon
Premia TNC August News
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Premia TNC August Holiday Notice
Cheers to August! May your days be filled with love, laughter, and endless possibilities. 🌼
🗞️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]