[Premia TNC] Weekly Newsletter 2025 Vol.54
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 | Trade Declaration Fees Adjustment for 2025
The Hong Kong General Chamber of Commerce has adjusted the 2025 trade declaration fees, increasing import and export declaration charges from HKD 73.50 (2024) to HKD 73.70. For imports, Form 1 (non-food items) and Form 1A (food items) are charged HKD 73.70, with an additional HKD 0.125 per $1,000 for non-food items. Form 1B (exempted articles) remains at HKD 73.50. For exports, Form 2 (Hong Kong origin and re-export items) and Form 2A (clothing and footwear) are charged HKD 73.70, with additional charges of HKD 0.125 per $1,000 and an extra HKD 0.3 for clothing. Form 2B (exempted articles) remains at HKD 73.50. Penalties for late declarations vary based on the amount and delay period, with a maximum government charge of HKD 200 per declaration. All charges are rounded to the nearest 10 cents.
🧾 Singapore | CPF Enhancements for 2025
Starting January 2025, the CPF system will see several key changes to enhance retirement planning and financial security: increased CPF contribution rates for workers aged 55-65 by 1.5%, a raised CPF monthly salary ceiling to $7,400 (and $8,000 in 2026), closure of the Special Account (SA) for members aged 55+ with savings transferred to the Retirement Account (RA) or Ordinary Account (OA), an increase in the Enhanced Retirement Sum (ERS) to $426,000 for higher CPF LIFE payouts, and an improved Matched Retirement Savings Scheme (MRSS) with a higher annual matching grant cap of $2,000 and no age cap for eligibility.
📝 Taiwan | Essential Documentation for Addressing Bad Debt Losses
To address bad debt losses, different supporting documents are required based on the situation: a postal “undeliverable” certificate if the debtor absconds or goes out of business; a court settlement transcript or ruling for settlements; a court ruling for bankruptcy or reorganization; a court-issued certificate of creditor’s rights if the debtor’s property is insufficient for compulsory execution; certification documents proving liquidation completion under foreign laws, verified by relevant embassies or agencies; and for debts overdue by 2 years, a postal certificate of deposit, a returned deposit certificate citing “rejection,” or court-issued collection documents, including payment orders or enforcement procedures.
🏛️ Vietnam | Enterprises to Submit Initial Investment Support Applications by July 2025
On December 31, 2024, Vietnam issued Decree 182/2024/ND-CP, establishing the Investment Support Fund to attract high-tech enterprises. The Fund offers two main types of support: annual cost support for CNC and R&D projects, and initial investment cost support for R&D Centers in semiconductors and AI. Eligibility depends on investment capital or annual revenue, with additional conditions. Supported costs include R&D, fixed assets, and CNC product manufacturing. The Decree takes effect from fiscal year 2024, with annual support applications due by July 10 of the following year. Applications are submitted to relevant Management Boards or provincial Departments of Planning and Investment.
🏡 Malaysia | Malaysia My Second Home (MM2H) Program [Issue 3 of 4]
In this issue, we explore the SILVER Category requirements for the MM2H Program: Applicants must be 25+ years old, deposit USD 150,000 (with up to 50% withdrawal allowed for specific purposes), and pay a one-off RM1,000 fee. They must purchase a house worth at least RM600,000, reside in Malaysia for 90 days annually, and the MM2H pass is valid for 5 years with a Multiple Entry Visa. Dependents are allowed, but foreign domestic helpers are not. Participants can undergo long-term medical treatment but cannot engage in business, investments, or employment without the relevant pass. Stay tuned for more on the MM2H program in our next newsletter.
📈 Dubai | UAE Economy Records 3.6% Growth in H1 2024
In the first half of 2024, the UAE economy grew by 3.6% to a GDP of Dh879.6 billion, driven by non-oil sectors like transportation, construction, and ICT, which contributed 75% to the economy. The non-oil sector rose by 4.4% year-on-year to Dh660 billion, with nominal GDP growing 5.6% to Dh981 billion. Key sectors saw significant growth: transportation and storage (8.4%), financial services (7.6%), construction (7.3%), and ICT (5.3%). Hospitality also surged, with hotel revenues up 7% to Dh24.6 billion, welcoming 15.3 million guests, a 10.5% increase. The IMF revised the UAE’s 2024 GDP growth forecast to 5.1%, supported by strong non-oil sector performance and strategic investments aligned with the “We the Emirates 2031” vision.
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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🌟 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 January News
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Premia TNC January Holiday Notice
Welcome, January! 🕊️ A new year, a new you—may this month fill your days with hope, positivity, and boundless possibilities. 🌞
→ Check Our Complete Schedule for January
🗞️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]
