[Premia TNC] Weekly Newsletter 2024 Vol.37
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 | Hong Kong Customs Extends Free Trade Agreement Transhipment Facilitation Scheme
Hong Kong Customs expanded the Free Trade Agreement Transhipment Facilitation Scheme (FTA Scheme) on September 1, now covering transshipment cargoes from the Mainland to Vietnam and Nicaragua via Hong Kong and from Serbia to the Mainland. Previously, the scheme covered 68 economies under 20 trade agreements for northbound cargo to the Mainland and southbound shipments to Taiwan, Korea, Singapore, and Australia. The expansion allows local traders to apply for a Certificate of Non-manipulation to claim preferential tariffs under agreements like the Regional Comprehensive Economic Partnership, boosting Hong Kong’s role as a logistics hub.
📑 Singapore | Reporting Employee Earnings (IR8A, Appendix 8A, Appendix 8B, IR8S) and Auto-Inclusion Scheme (AIS) [Issue 1 of 2]
Under Section 68(2) of the Income Tax Act, employers in Singapore must prepare Form IR8A for full-time and part-time resident employees, non-residents (including those rendering services in Singapore), company directors, board members, pensioners, and former employees who received income. Additionally, Appendix 8A is required for those receiving benefits-in-kind, Appendix 8B for gains from stock options or employee share ownership plans, and Form IR8S if excess CPF contributions were made or refunded. These forms must be submitted by March 1st each year.
💵 Taiwan | Basic Salary Raised to NTD 28,590; Hourly Rate Now NTD 190
Effective January 1, 2025, the basic salary in Taiwan will increase to NTD 28,590 with an hourly rate of NTD 190, marking a 4.08% rise. Over the past eight years, the salary has grown by 37.3% from NTD 20,008, with 2025 being the ninth consecutive year of increases. This is the first adjustment under the Minimum Wage Act, effective January 1, 2024, which considers the price index and includes a research group for oversight. The government’s goal is to ensure financial stability and peace of mind for both employers and employees.
💰 Vietnam | Singapore Invests Over $80 Million in Becamex Binh Dinh Industrial Park
Mr. Dang Vinh Son, Head of the Binh Dinh Economic Zone Management Board, announced that Future Enterprises PTE. LTD (Singapore) has received an investment certificate to build a freeze-dried instant coffee factory at Lot B21.01, Becamex Binh Dinh Industrial Park, Vietnam. The project spans over 7.1 hectares and aims to produce 5,400 tons of freeze-dried coffee annually for export, with a total investment exceeding VND 2,000 billion (around USD 80 million). Construction will be completed between April 2027 and January 2028, and operations will run until August 2070. Future Enterprises, a subsidiary of Food Empire Holdings Group, also operates FES Vietnam Company Limited.
💼 Malaysia | Comparing MDEC vs. ESD: [Issue 1 of 3]
Malaysia offers two main pathways for foreign professionals to obtain work visas: the Malaysia Digital Economy Corporation (MDEC) visa and the Expatriate Services Division (ESD) visa. The MDEC visa is designed for skilled professionals in tech-driven sectors like IT and digital marketing, requiring both the applicant’s expertise in these fields and the hiring company’s registration under MDEC’s Malaysia Digital (MD) initiative. It provides faster processing and dedicated support but is limited to the digital economy. Stay tuned for our upcoming newsletter comparing the MDEC and ESD visa options.
📈 Dubai | UAE’s GDP Grew by an Estimated 3.4% in Q1 2024
In the first quarter of 2024, the UAE’s economy grew by 3.4% year-on-year, reaching a GDP of 430 billion dirhams (around S$152.9 billion), according to preliminary government figures reported by WAM on September 9. The non-oil sector saw a 4% increase, driven by trade, manufacturing, and financial services. This growth supports the UAE’s strategy to diversify its economy away from oil dependency, with strong contributions from tourism, construction, and financial services. The IMF has revised its 2024 GDP growth forecast for the UAE to 4%, up from an earlier 3.5%.
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 Promotion!
🌟 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
Stay Ahead with Our Latest Updates!
Get curated content delivered straight to your inbox, tailored to your interests and preferences. Subscribe to our newsletter today and never miss a beat in your industry.
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
How was the e-newsletter this week?
Feel free to share your thoughts!
Good 😃 l Not So Good 😕
We look forward to welcoming you next week with insights into emerging business trends.
Kindly consider introducing Premia TNC to your network.
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]
