[Premia TNC] Weekly Newsletter 2024 Vol.40
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 | The Limited Partnership Fund Ordinance (Cap. 637)
The Hong Kong Limited Partnership Fund (LPF) is a flexible registration framework used for hedge funds, real estate, private equity, venture capital, and infrastructure, but it is not a separate legal entity. It requires at least one general partner (GP) and one limited partner (LP), with partners free to contract. Compliance includes maintaining a registered office in Hong Kong, appointing a local auditor, submitting an annual return, and ensuring proper record-keeping and asset custody. Key benefits include potential tax exemptions, no capital tax or stamp duty on transfers, operational flexibility, and a transparent disclosure framework.
💰 Singapore | IRAS Tax Relief: Maximizing Unutilized Capital Allowances, Trade Losses, and Donations
Singapore businesses can optimize their tax savings by managing unutilized items such as capital allowances, trade losses, and donations. Capital allowances arise from investments in qualifying assets and can be carried forward or back to offset taxable income. Trade losses can be similarly carried forward or back, with up to $100,000 allowed for carry-back relief. Qualifying donations can be carried forward for up to five years. Companies in a corporate group can also transfer these unutilized items to related companies, maximizing tax relief across the group, subject to continuity and activity tests.
🗓️ Taiwan | Repair and Maintenance Expense Validity Period
According to Article 77 of the Income Tax Assessment Guidelines for Profit-Seeking Enterprises, repair and maintenance expenses must be classified as capital expenditures if their benefits extend beyond two years. For instance, Company A, which generates revenue from branded clothing, spent NTD 9 million on shop counter decoration under a three-year contract in 2023. Since the benefits last beyond two years, the expense should be capitalized and amortized over the contract period. As a result, NTD 1.2 million (NTD 6 million * 20%) becomes an additional taxable amount for 2023.
📈 Vietnam | Vietnam’s Preparations to Welcome the New Generation of FDI
On September 25, Prime Minister Pham Minh Chinh chaired the 5th Ho Chi Minh City Economic Forum, emphasizing Vietnam’s commitment to attracting FDI through clear policy direction, improved access to land, reliable energy, and skilled human resources. Recent reforms include amending the Land Law, implementing Power Plan VIII, and training 100,000 high-tech workers. The government is also creating an investment support fund for technology sectors like semiconductors and green hydrogen and revising the Telecommunications Law to ease foreign investment in data centers. In response to the OECD’s global minimum tax, Vietnam plans to offer non-tax incentives like cash support and favorable policies.
🖥️ Malaysia | E-Invoice Treatment During Malaysia’s Interim Relaxation Period [Issue 1 of 2]
The Government of Malaysia has introduced a six-month interim relaxation period for the mandatory implementation of the e-Invoice system, announced on 26 July 2024, to ease the transition for businesses. This period is segmented by taxpayer categories based on annual turnover, with Phase 1 starting on 01 August 2024 for businesses with over RM100 million in revenue, Phase 2 on 01 January 2025 for those earning between RM25 million and RM100 million, and Phase 3 on 01 July 2025 for all remaining taxpayers. Stay tuned for more updates on the e-Invoice interim relaxation period in our upcoming newsletter.
💵 Dubai | Economic Growth and Diversification in the UAE
The UAE has transformed from an oil-dependent economy to a diversified powerhouse, with projected GDP growth of 3.5% to 4% in 2024, driven by key sectors such as tourism, real estate, technology, and renewable energy. Tourism thrives on world-renowned attractions and events, while the real estate market benefits from high demand and regulatory reforms. The UAE’s focus on technology and innovation, through initiatives like Smart Dubai and tech hubs, fosters growth in fintech and AI. Government initiatives, including Vision 2021 and 100% foreign ownership policies, attract foreign investment, while investments in renewable energy, like the Mohammed bin Rashid Al Maktoum Solar Park, support sustainability and reduce reliance on fossil fuels.
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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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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 Vietnam Webinar
Vietnam Tax Point – Expenses Before and After Establishment
Gather all the necessary details about the implementation of tax point in Vietnam!
Attend our webinar on October 31, 2024, for valuable information, free consultations, and comprehensive materials to gain insights into how expenses differ prior to and after the establishment of tax point in Vietnam. Secure your booking today!
<Vietnam>
Date: Thursday, October 31, 2024, 2:00 PM – 3:00 PM
Target companies: Clients looking for additional information on tax point expenses before and after establishment in Vietnam
Speaker: Presenter: Jenny, Supporter: Sunny
Premia TNC October News
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Premia TNC October Holiday Notice
Hello, October! Wishing you a month filled with cozy moments, crisp autumn days, and endless opportunities to thrive. 🍁
🗞️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]
