[Premia TNC] Weekly Newsletter 2025 Vol.60
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 | Property Tax: Key Responsibilities for Property Owners
Property owners must report rental income to the Department within 4 months after the end of the assessment year (e.g., by 31 July 2024 for 2023/24), using the appropriate tax return based on ownership type: BIR60 for sole ownership, BIR57 for joint or co-ownership, and BIR58 for corporate ownership. Even if no rent is received, a return must be filed. Owners must keep rent records for 7 years and inform the Department of any address or ownership changes within 1 month. → Read More
🏦 Singapore | Why Singapore Leads as a Global Banking Hub
Singapore is a premier global financial hub due to its stable and diversified economy, strategic location in Southeast Asia, robust regulatory framework, and favorable tax environment. The country boasts a competitive corporate tax rate, no capital gains tax, and strong compliance with international financial regulations. Its advanced digital infrastructure, leading fintech ecosystem, and government initiatives like Smart Nation foster innovation in banking. Singapore’s political stability, low corruption, and strong governance create a secure environment for banking operations. Additionally, the city-state offers a highly skilled talent pool, excellent global connectivity, and diverse banking opportunities, including wealth management and private banking services.
→ Read More💴 Taiwan | Adjustment of Gift Tax Brackets in 2025
The donor is typically responsible for the gift tax, calculated based on the fair market value of the assets on the transfer date, minus exemptions and deductions. An annual exemption of NT$2,440,000 per taxpayer is allowed, with certain gifts to government, public schools, non-profits, and religious or charitable organizations being tax-exempt. Starting January 1, 2025, the tax brackets are up to NT$28,110,000 at 10%, NT$28,110,001 to NT$56,210,000 at 15% (with a progressive difference of NT$1,405,500), and above NT$56,210,000 at 20% (with a progressive difference of NT$4,216,000). The formula for calculating the gift tax payable is (Taxable Gift Amount – Exemption – Deductions) × Tax Rate – Progressive Difference.
🏦 Vietnam | Seminar on Transforming Export Processing Enterprises (EPE) in Vietnam
The seminar on transforming export processing enterprises (EPE) in Vietnam, held on January 17, 2025, at KOAS Conference Room, KOCHAM center, featured keynote speaker Mr. Byun Sang Hyun, customs consultant and CEO of UNI Consulting Co., Ltd. He provided insights on converting regular businesses to EPEs, covering the EPE business regime, necessary procedures, tax incentives, and practical advice for successful operation. The lively Q&A session allowed attendees to address specific transition issues, highlighting KOCHAM’s role in connecting businesses and experts. The event underscored the promising cooperation between KOCHAM and UNI Consulting, aiming to support the Korean business community in Vietnam. KOCHAM plans more seminars in 2025 to foster member exchanges and support the import-export industry.
📝 Malaysia | Understanding Potongan Cukai Berkala (PCB)
Potongan Cukai Berkala (PCB), or Monthly Tax Deduction, is a pay-as-you-earn tax system in Malaysia that helps employees manage their tax liabilities by spreading payments over 12 months. Employers withhold the appropriate amount from salaries based on monthly income, personal and dependent reliefs, and remit it to the Malaysian Inland Revenue Board. At the end of the tax year, employees file an annual income tax return to reconcile their total income and taxes paid, ensuring they either receive a refund or make additional payments if necessary. This system simplifies tax compliance for employees and supports steady government revenue.
📈 Dubai | UAE and Costa Rica Strengthen Trade and Investment Ties
Food prices in the UAE have declined compared to last year, offering relief to consumers, especially with Ramadan approaching, though they remain above pre-Covid levels. The drop is driven by easing commodity prices, stabilized shipping costs following the Red Sea crisis, and government price regulations. While essential goods like wheat and corn no longer see major hikes, oil prices continue to influence transportation and retail costs. Agthia, a leading UAE-based food and beverage company, has adapted through diversified sourcing to mitigate supply chain disruptions, including India’s wheat export ban. In 2024, the company reported Dh4.9 billion in revenue and Dh321.8 million in net profit, reflecting 7% growth. While previously active in mergers and acquisitions, Agthia is now focusing on business sustainability amid rising interest rates. Despite the relief, a return to pre-pandemic prices remains unlikely.
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Premia TNC Hong Kong Webinar
Key Insights and Expert Advice for International Entrepreneurs in Hong Kong
Get your hands on crucial information to master company incorporation in Hong Kong!
Attend our webinar on February 26, 2025, for valuable information, free consultations, and comprehensive materials to gain insights into the key requirements to ensure a smooth company incorporation process in Hong Kong. Secure your booking today!
<Hong Kong>
Date: Wednesday, February 26, 2025, 4:00 PM-5:00 PM GMT+8
Target companies: Business owners looking to branch out via company incorporation in Hong Kong.
Presenter: Irene Tsang
→ Webinar participation application link
Premia TNC February News
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Premia TNC February Holiday Notice
Hello, February! 💐 A month of passion and progress—may this season inspire you to embrace the beauty around you and within you. ✨
→ Check Our Complete Schedule for February
🗞️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]
