[Premia TNC] Weekly Newsletter 2024 Vol.36
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 | Transfer Letter of Credit Introduction
A transferable letter of credit allows the primary beneficiary to transfer some or all credit to a secondary beneficiary, with specific criteria and possible charges typically borne by the first beneficiary. Under Article 48 of the UCP 600, permissible changes include reducing the L/C amount, unit prices, expiry and shipping dates, or the presentation period for documents. Additionally, the beneficiary’s name can replace the applicant’s on documents, insurance coverage can be increased, and the payment location can be changed, but the issuing bank may decline a transfer request if terms are unacceptable.
🔐 Singapore | Updated Singapore Cybersecurity Strategy to Safeguard Critical Systems Amid Growing Threats
Singapore is enhancing its cybersecurity efforts to protect critical infrastructure like energy grids and water supplies, as outlined in the updated Operational Technology (OT) Cybersecurity Masterplan announced on August 20, 2024. This first update since 2019 aims to address increasing threats by improving talent development, adopting best practices, and integrating advanced technologies over the next five years. The Cyber Security Agency of Singapore (CSA) will partner with educational institutions and release a Cybersecurity Education and Learning Guide to boost expertise. Notably, the plan will focus on OT-specific training, collaborating with the Sans Institute to train 5,000 professionals, and addressing persistent ransomware threats despite a decrease in overall cyber incidents.
💱 Taiwan | 2024 Provisional Tax Filing Period: September 1 – 30 2024
The 2024 provisional tax filing period runs from September 1 to September 30. Filing is generally exempt after paying half of the 2023 income tax unless using credits or withholding taxes. Companies meeting specific criteria can use revenue from January to June 2024 for calculation. Exemptions apply if the provisional tax is below NTD 2,000, no tax was payable for 2023, or the company is dissolving, merging, or transferring. The bureau encourages online filing to save time.
🏭 Vietnam | Thailand Attracts Businesses Seeking Investment Opportunities
At a Thai-Vietnamese investor connection event on August 28, Mr. Narucha Ruchuphan, Deputy Secretary General of the Thai Board of Investment (BOI), highlighted Vietnam as a key market of interest for Thai businesses. As part of BOI’s investment survey in Vietnam, 25 companies from sectors like mechanical engineering, energy, and consumer goods explored investment opportunities. In the first half of 2024, Thai investors registered $100 million in capital, bringing the total to $14.1 billion, ranking Thailand 9th among foreign investors in Vietnam, primarily in manufacturing. Major Thai firms like TCC Group and ThaiBev have expanded their presence, with trade between the two nations reaching $29 billion. Despite this, Thai investment is concentrated in southern Vietnam, prompting interest in northern regions during this visit. BOI remains committed to facilitating and promoting Thai investments in Vietnam to strengthen bilateral economic ties.
🧑💼 Malaysia | Streamlining Tax Clearance Letter (SPC) Applications via e-SPC for Employers
Starting April 1, 2024, the Inland Revenue Board of Malaysia (IRBM) has implemented new guidelines for employers applying for Tax Clearance Letters (SPC) through the e-SPC system, detailed in a comprehensive guide available under the Employment Termination section of the IRBM Portal. Notably, SPC applications are not required for employees with non-taxable income or for Malaysian citizens whose income falls below the threshold for monthly tax deductions and who do not receive additional compensation. Employers must also use new CP22A/CP22B formats for group submissions from September 1, 2024, and make any amendments or additions to SPC applications via the e-SPC system, as manual submissions will no longer be accepted after that date.
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 Malaysia Webinar
Malaysia Implementation of E-Invoice
Gather all the necessary details about the implementation of for companies in Malaysia!
Attend our webinar on September 26, 2024, for valuable information, free consultations, and comprehensive materials to gain insights into how an e-invoice is implemented in Malaysia. Secure your booking today!
<Malaysia>
Date: Thursday, September 26, 2024, 2:00 PM – 3:00 PM
Target companies: Clients looking for additional information on e-invoice implementation in Malaysia
Speaker: Consultant – Hani
Premia TNC September News
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Premia TNC September Holiday Notice
Here’s to September! Wishing you a month full of fresh starts, happiness, and boundless adventures. 🍂
🗞️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]
