[Premia TNC] Weekly Newsletter 2024 Vol.42
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 | Applications Open for Artificial Intelligence Subsidy Scheme
On 7 October, the Artificial Intelligence Subsidy Scheme was launched, offering eligible organizations subsidies of up to 70% of Cyberport’s AI Supercomputing Centre (AISC) service fees. With $3 billion allocated in the 2024–25 Budget, the three-year scheme aims to support universities, research institutes, and businesses in leveraging AISC’s computational power for scientific breakthroughs, fostering AI development in Hong Kong. The AISC’s first-phase facility is set to open this year, eventually reaching 3,000 petaFLOPS.
🔗 Singapore | OpenAI Unveils o1 AI Model with Human-Like Reasoning
OpenAI has introduced a new AI model, “Strawberry” (o1), designed to excel in complex reasoning tasks like coding, math, and multi-step problem solving. Although it lacks features like web browsing and file uploads found in previous versions, the o1 model emphasizes deeper computation and “chain of thought” prompting, generating more thoughtful responses by processing multiple related prompts. This launch marks a fresh start with a new model numbering system and comes as OpenAI seeks funding amidst rising competition from companies like Anthropic and Google. In a preview, OpenAI highlighted the model’s potential across various subjects, aiming to refine it further based on user feedback.
🛒 Determining Taiwan-Sourced Income for Cross-Border Electronic Services
When a foreign platform operator (PO) facilitates transactions between onshore and offshore sellers and buyers, any remuneration collected from a party within Taiwan is considered Taiwan-sourced income. For example, if a foreign company sells services to a domestic individual via a foreign platform, the service fees collected by the platform are Taiwan-sourced income. Similarly, if a domestic company sells services to a foreign individual via a foreign platform, the fees collected by the platform are also Taiwan-sourced income.
💵 Vietnam | Salary Regime During the Probationary Period in Vietnam
In Vietnam, during the probationary period, employees must be paid at least 85% of the official salary, as per Article 26 of the Labor Code 2019, with fines for non-compliance ranging from VND 2,000,000 to VND 10,000,000. Probationary employees are entitled to the same overtime and night work rates as full employees, with fines up to VND 100,000,000 for violations. Employers cannot impose minimum working days for salary payment and must pay employees for actual days worked, with fines up to VND 10,000,000 for non-compliance. Ensuring transparency and fairness in pay during probation fosters a positive work environment and avoids legal penalties.
📱 Malaysia | Understanding Malaysia Digital (MD)
Malaysia Digital is a national initiative to attract companies, talents, and investments, empowering businesses and citizens to lead in the global digital economy. It drives growth through nine promoted sectors such as Digital Agriculture, Services, Cities, Health, Finance, Trade, Content, Tourism, and the Islamic Digital Economy, and is further fostered by the Malaysia Digital Catalytic Programmes (PeMangkinMD) and other incentives. This initiative harmonizes the demand for digital solutions with the supply of products and services, supported by enablers like talent, infrastructure, and regulations, ensuring a dynamic and sustainable digital ecosystem.
👀 Dubai | Key Benefits of UAE Free Zones for International Investors
The UAE Free Zones offer international investors 100% foreign ownership, corporate tax exemptions, and no personal income tax, fostering profitability and full control. Businesses benefit from complete profit repatriation, no customs duties, and streamlined setup processes with “one-stop shop” services. Equipped with world-class infrastructure and specialized zones tailored to industries like technology, media, and healthcare, Free Zones enhance trade efficiency and promote innovation, making them prime destinations for global enterprises.
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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.
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 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]
