[Premia TNC] Weekly Newsletter 2024 Vol.38
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 | Tobacco Control Legislation
Starting April 30, 2022, it is illegal in Hong Kong to import, manufacture, sell, advertise, or possess for commercial purposes alternative smoking products (ASPs), which include devices like electronic smoking items, heated tobacco products, and herbal cigarettes. The ban covers importing ASPs through parcels, cargo, or by travelers, except in specific cases like airport transits. It also prohibits using ASPs in no-smoking areas, offering them as promotional items, and displaying branded items related to ASPs. The law defines ASPs as devices that simulate smoking without direct lighting, substances used with them, and herbal cigarettes.
📑 Singapore | Reporting Employee Earnings (IR8A, Appendix 8A, Appendix 8B, IR8S) and Auto-Inclusion Scheme (AIS) [Issue 2 of 2]
Employers with 5 or more employees or those notified by IRAS must register for the Auto-Inclusion Scheme (AIS) and submit employees’ income information electronically by March 1st each year. This information will be pre-filled in employees’ tax returns, and no hardcopy Form IR8A or appendices are needed. Employers not in the AIS must provide hardcopy Form IR8A and appendices to employees by March 1st but are not required to submit them to IRAS.
🚙 Taiwan | Tax Deductibility of Input Tax on Leases for Small Passenger Vehicles
When a company leases a small passenger vehicle, the deductibility of input tax on the Government Uniform Invoice (GUI) depends on the lease type. For operating leases, input tax is deductible if the vehicle is used for business purposes, not restricted to high-ranking management, managed by the company, and not provided as an employee benefit. For financial leases, input tax is non-deductible if the vehicle’s ownership or risks and rewards transfer to the lessee, such as when the lease covers 75% or more of the vehicle’s life, the lessee has a purchase option at a reduced price, or lease payments equal 90% or more of the vehicle’s value.
💊 Vietnam | Ho Chi Minh City Initiates Efforts to Attract Pharmaceutical and Medical Supply Projects
The Ho Chi Minh City Medical-Pharmaceutical Industrial Park, located in Le Minh Xuan 2 Industrial Park, Binh Chanh district, will serve as a hub for research, development, and innovation in medicine and pharmacy, focusing on high-tech production and trade of specialized products. Scheduled for completion by 2030, the park aims to expedite the delivery of high-quality drugs, supported by special government policies. Projects producing medicines, vaccines, and medical supplies will receive loan interest support, while plans are being made to aid small and medium enterprises from 2024 to 2026. Additionally, regulatory amendments are being proposed to streamline drug registration and support pharmaceutical businesses, including e-commerce and drug transportation services.
💼 Malaysia | Comparing MDEC vs. ESD: [Issue 2 of 3]
The ESD working visa offers a versatile option for expatriates across various industries, including manufacturing, finance, and education, providing flexibility but potentially longer processing times compared to the specialized MDEC visa. While MDEC is focused on tech professionals in the digital economy with faster processing and benefits tied to Malaysia’s digital initiatives, the ESD visa caters to a broader range of sectors, making it ideal for non-tech roles but with less specialized support and slower processing. Stay tuned for our upcoming newsletter comparing MDEC and ESD working visa options.
✈️ Dubai | Elevating Dubai’s Skyline: Cutting-Edge Design and Innovation at Al Maktoum International Airport
The expansion of Al Maktoum International Airport, led by Dar Al-Handasah and Coop Himmelb (L) AU, will be a cutting-edge project emphasizing innovation, sustainability, and design excellence. Scheduled to begin planning in 2024 and complete its first phase by 2032, the expanded airport will cover 70 square kilometers, featuring 407 Code-E contact gates, five parallel runways, and a capacity for 260 million passengers annually. The design will prioritize passenger comfort with advanced technologies and energy-saving features while reflecting Dubai’s cultural heritage and aspirations. With a budget of $34.8 billion (AED128 billion), the project aims to set a new standard for global travel experiences and sustainability.
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🆕 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.
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🌟 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]
