[Premia TNC] Weekly Newsletter 2024 Vol.46
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 | Regulatory Framework for Food Supplements in Hong Kong
In Hong Kong, food supplements are regulated by the Centre for Food Safety (CFS) under the Food and Environmental Hygiene Department (FEHD) and must comply with the Public Health and Municipal Services Ordinance (Cap.132). Depending on their ingredients and claims, supplements fall under four key ordinances: the Public Health and Municipal Services Ordinance (PHMSO) for general food safety, the Pharmacy and Poisons Ordinance (PPO) for medicinal ingredients or claims, the Chinese Medicine Ordinance (CMO) for traditional Chinese medicine ingredients, and the Undesirable Medical Advertisements Ordinance (UMAO) for restricting misleading health claims. The Department of Health’s Drug Office classifies and regulates supplements based on their ingredients and claims, with those making medicinal claims requiring registration under the PPO.
🎥 Singapore | Meta Unveils Movie Gen: An AI-Powered Video Creation Tool
Meta’s new AI-powered video generator, Movie Gen, can create high-definition videos with sound from simple text inputs and edit existing footage or images, adding ambient sounds, effects, and background music. Although not yet publicly accessible, it follows OpenAI’s announcement of Sora, a text-to-video model. Movie Gen can also customize visuals by altering elements, styles, and transitions. As AI video and image generation technology advances, companies like Meta, Google, and OpenAI are in a competitive race, with notable developments such as the co-lead of Sora joining Google.
📑 Taiwan | Issuing GUI When Selling Mortgaged Property
Under the Movable Property Secured Transactions Act, creditors can auction or sell a debtor’s mortgaged property. Both parties must provide GUIs to the buyer and creditor as directed by the Ministry of Finance. For instance, Company A mortgaged machinery to Company B, defaulted, and Company B sold it to Company C for NTD30,000,000, issuing an invoice to C. Company B asked A to issue an invoice, but A did not comply, leading to underreported sales and fines. The Ministry of Finance advises creditors to issue invoices and notify debtors to provide documents, as voluntary compliance can prevent penalties.
🚢 Vietnam | Tax Exemption on Imported Raw Materials and Supplies for Export Production
The General Department of Customs outlines that organizations importing raw materials for export production must notify reprocessing contracts and maintain delivery documents when other entities process part of the production. Export products include those made from imported raw materials, a mix of imported and domestic materials, or solely domestic materials. According to Clause 7, Article 16 of the Law on Export Tax and Import Tax, and related decrees, imported raw materials for export production are tax-exempt, with tax-exempt status determined by specific provisions in the decrees.
💸 Malaysia | EPF’s New Account Structure: A Step Towards Financial Flexibility and Security [Issue 2 of 2]
From May 12 to August 31, 2024, individuals can make a one-time, irreversible choice to transfer funds within EPF’s new account structure for greater financial flexibility. If your Akaun Sejahtera balance is RM3,000 or more, 10/30 moves to Akaun Fleksibel, 5/30 to Akaun Persaraan, and 15/30 remains in Akaun Sejahtera. For balances between RM1,000 and RM3,000, RM1,000 transfers to Akaun Fleksibel, with the rest staying in Akaun Sejahtera. Balances of RM1,000 or less will fully transfer to Akaun Fleksibel. Carefully review your financial goals and account balances, as this selection cannot be changed.
🛍️ Dubai | Inside Dubai’s Luxury Shopping Revolution: Trends for the Modern Shopper
Dubai is evolving from a retail hotspot into a global luxury capital, captivating high-end shoppers with its blend of cultural richness and innovative trends. Shopping here is an immersive experience, with malls like The Dubai Mall offering in-store events and personal consultations. The city embraces a digital-first approach, providing seamless online shopping with personalized virtual styling, same-day delivery, and curated collections. Sustainability is key, with eco-friendly offerings and transparent sourcing. Wellness and hyper personalization are integral, with brands offering health-focused products and custom items, making shopping in Dubai a luxurious lifestyle.
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.
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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 Webinar
Hiring and Payroll Compliance in Singapore: Key Requirements for Employers
Gather all the crucial information regarding the key requirements for hiring and payroll compliance in Singapore!
Attend our webinar on November 27, 2024, for valuable information, free consultations, and comprehensive materials to gain insights into the key requirements set for employers to remain compliant. Secure your booking today!
<Singapore>
Date: Wednesday, November 27, 2024, 2:30 PM
Target companies: Employers looking for additional information on hiring and payroll compliance with key requirements presented.
Presenter: Eric
Premia TNC October News
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Premia TNC November Holiday Notice
Hello, November! 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]
