[Premia TNC] Weekly Newsletter 2024 Vol.49
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 | Extended Deadline for ‘M’ Code Returns
The Inland Revenue Department has extended the due date for filing 2023/24 Profits Tax returns with Accounting Date Code “M” (accounting date between 1 January 2024 and 31 March 2024) from 15 November 2024 to 29 November 2024, with an additional 1-month extension available for electronic filings upon application. Failure to file on time may result in a HK$10,000 fine, prosecution, and an estimated tax assessment without deductions for allowable expenses.
🔎 Singapore | Overview of Singapore’s Business Landscape
Singapore, a leading global business hub, boasts a robust economy, a stable political environment, and an efficient regulatory framework. Its strategic location in Southeast Asia, a business-friendly environment with low taxes and ease of doing business, and pro-business government support make it a prime destination for international trade and investment. The city-state excels in finance and banking, technology and innovation, trade and logistics, life sciences and healthcare, and tourism and hospitality, supported by world-class infrastructure and extensive government incentives.
💸 Taiwan | Goods Delivery to Bonded Areas with Zero-Rate VAT Applicable
A business can apply the zero-business-tax rate for foreign customer orders with goods delivered to bonded area operators. For example, Company A delivered goods worth NTD6 million to Bonded Area Company C with customs clearance and NTD5 million to Bonded Area Company E without customs clearance, receiving foreign exchange income later. Both transactions are eligible for the zero-tax rate with proper documentation.
⛔ Vietnam | End Immediate Exemption of Import Tax on Low-Value Goods
The Vietnamese government will issue a decree to manage customs for e-commerce goods, eliminating import tax exemptions for small-value items to ensure tax collection from foreign e-commerce platforms. The National Assembly has terminated Decision No. 78/2010/QD-TTg, which exempted tax on low-value imported goods via express delivery. With 4-5 million small-value orders shipped daily from China to Vietnam through platforms like Shopee and Lazada, the Finance and Budget Committee recommends policies to protect revenue and create a fair business environment.
💵 Malaysia | SOCSO Raises Wage Ceiling from RM5,000 to RM6,000
Effective 1 October 2024, PERKESO will raise the wage ceiling for contributions from RM5,000 to RM6,000 per month, enhancing social protection for higher-income workers. This change means greater contributions from both employers and employees, leading to increased benefits in cases of employment injuries, disabilities, and other risks. The adjustment aims to provide better financial stability during unexpected situations, reflecting the government’s commitment to safeguarding the well-being of Malaysia’s workforce.
🏦 Dubai | UAE Residents Can Now Deposit and Withdraw Cryptocurrencies in Dirhams
The UAE is enhancing its role as a global crypto hub by allowing residents to deposit and withdraw UAE dirhams (AED) against cryptocurrencies, thanks to a partnership between Crypto.com and Standard Chartered Bank. This move simplifies transactions between digital assets and fiat currency, reflecting the country’s progressive stance on blockchain and fintech, and is expected to boost crypto adoption among individuals and businesses in the region.
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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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 Taiwan Webinar
Requirements For Taiwan Employment Gold Card
Gather all the crucial information regarding the requirements for Taiwan employment gold cards!
Attend our webinar on December 24, 2024, for valuable information, free consultations, and comprehensive materials to gain insights into the key requirements set for a Taiwan employment gold card. Secure your booking today!
<Singapore>
<Taiwan>
Date: Tuesday, December 24, 2024, 10:00 AM-11:00 AM
Target companies: Employers looking for additional information on the requirements for Taiwan employment gold cards.
Presenter: Anita
Premia TNC December News
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Premia TNC December Holiday Notice
Hello, December! ☃️ May this month bring warmth to your heart, joy to your days, and moments to cherish as the year comes to a close. ✨
→ Check Our Complete Schedule for Decmber
🗞️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]
