[Premia TNC] Weekly Newsletter 2025 Vol.67
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 | Strategic Advancements in Artificial Intelligence
In the 2025-26 Budget, Financial Secretary Paul Chan announced a comprehensive strategy to establish Hong Kong as a leader in artificial intelligence (AI). Key initiatives include the allocation of HK$1 billion for the Hong Kong Artificial Intelligence Research and Development Institute, which will drive cutting-edge AI research and applications across various industries. Additionally, the expansion of the Cyberport AI Supercomputing Centre to 3,000 petaFLOPS will support complex AI models, and the hosting of international AI conferences will foster global collaboration and showcase Hong Kong’s commitment to AI innovation.
The budget also emphasizes the development of third-generation semiconductor technologies through the Hong Kong Microelectronics Research and Development Institute. These efforts align with the broader strategy to integrate AI with advanced semiconductor research, supporting next-generation AI applications. Financial Secretary Chan highlighted that these investments are part of a larger plan to enhance Hong Kong’s technological infrastructure and drive economic growth, positioning the city as a global hub for AI and technological innovation.
📈 Singapore | 4 Key Highlights to Strengthen Singapore’s Enterprise Ecosystem
Budget 2025 introduces key initiatives to strengthen Singapore’s enterprise ecosystem, focusing on scaling up enterprises, embracing technology and AI, boosting financing options, and enhancing capital markets. To support local enterprises in expanding globally, the Market Readiness Assistance (MRA) Grant cap is enhanced to $100,000 per new market, and the Double Tax Deduction for Internationalisation (DTDi) Scheme is extended till 2030. The Enterprise Financing Scheme (EFS) sees the Trade Loan maximum quantum increased to $10 million, and the Mergers & Acquisitions (M&A) Loan scope expanded. Additionally, the Global Founder Programme by EDB aims to attract global entrepreneurs to Singapore.
To embrace technology and AI, $150 million is allocated for the Enterprise Compute Initiative, and continued support is provided for SMEs to adopt digital solutions. Financing options are boosted with a $1 billion Private Credit Growth Fund and government-backed investment funds with longer investment horizons. Enhancements to capital markets include new tax incentives for Singapore-based companies and fund managers, and recommendations from the Equities Market Review Group to improve the Singapore Stock Exchange’s attractiveness. These measures aim to empower businesses to scale up, integrate AI-driven growth, and secure capital more effectively, positioning Singapore as a future hub for leading enterprises.
💷 Taiwan | Update Regarding VAT Refund on Imported Purchases
According to Article 15, Paragraph 2 of the Business Tax Act, any business tax recovered due to returned purchases or allowances must be deducted from the input tax in the period it occurs. Similarly, business tax levied by customs on imports is deductible input tax; however, if a refund is later received from customs for overpaid import tax, it must be treated as a reduction in input tax. Since March 2003, businesses that have used the customs payment certificate to deduct input tax and later receive such refunds must file a “Declaration Form for Refund of Overpaid Business Tax by Customs” in the same period the refund occurs. The form, issued by local tax offices, must categorize the refund under “Purchases and Expenses” or “Fixed Assets” and report it under “Returns and Allowances” (field codes 40, 41, 42, or 43) in the Sales and Tax Return (Forms 401 or 403). Failure to declare the refund is subject to penalties under Article 51, Subparagraph 5 of the Act.
💵 Vietnam | Vietnam Attracts Nearly USD 11 Billion in Foreign Investment
In the first quarter of 2025, Vietnam attracted nearly USD 11 billion in registered FDI, a 13.4% increase from the same period in 2024. This includes USD 5.16 billion in additional capital and USD 1.48 billion from capital contributions and share purchases, with disbursed capital reaching USD 4.88 billion, up 7.5%. The manufacturing and processing industry led with USD 6.79 billion, followed by real estate with USD 2.39 billion. Singapore was the top investor, contributing USD 4.65 billion, followed by South Korea and Japan. Ho Chi Minh City led among localities with USD 2.27 billion. The FDI surge reflects confidence in Vietnam’s business environment, but sustaining this trend requires improvements in infrastructure, human resources, and administrative procedures.
🏦 Malaysia | BO Reporting: A Comprehensive Overview [Issue 2 of 4]
Beneficial ownership (BO) reporting is crucial for promoting transparency, preventing financial crimes, and enhancing corporate accountability by identifying the real individuals behind legal entities. In Malaysia, companies must identify, verify, and report BO information to authorities, including initial reporting upon identifying a new BO, ongoing updates for changes like share transfers, and annual verification to ensure records are current, all recorded in the Register of Beneficial Owners (RBO) and submitted via e-BOS.
💰 Dubai | UAE Sets New Corporate Tax Rules for Non-Resident Person’s Nexus
The UAE Ministry of Finance’s Cabinet Decision No. 35 of 2025 redefines when non-resident juridical investors in Qualifying Investment Funds (QIFs) and Real Estate Investment Trusts (REITs) have a taxable presence in the UAE, replacing Cabinet Decision No. 56 of 2023. A nexus is created for QIF investors if the fund breaches the real estate threshold and fails to distribute 80% of its income within 9 months, or if ownership diversity requirements are not met. For REIT investors, a nexus arises on the date of dividend distribution if 80%+ income is distributed within 9 months, or on the date of acquiring ownership if the distribution threshold isn’t met. Non-resident juridical investors exclusively investing in compliant QIFs and REITs are exempt from being considered to have a taxable presence, simplifying tax obligations and enhancing the UAE’s investment appeal.
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Premia TNC Malaysia Webinar
Professional Guidance and Crucial Information on Navigating Audit Exemption and Dividend Tax in Malaysia
Seize your opportunity to get a hang of the latest key updates on audit exemption and dividend tax in Malaysia! Attend our webinar on April 17, 2025, for valuable information, free consultations, and comprehensive materials to gain insights into the key updates concerning exemptions and taxes. Secure your booking today!
<Malaysia>
Date: Thursday, April 17, 2025, 2:00 PM – 3:00PM GMT+8
Target companies: Businesses looking to get on top of the key updates concerning audit exemption and dividend tax in Malaysia.
Presenter: Mandy
→ Webinar participation application link
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Premia TNC April Holiday Notice
April has arrived! 🌻 A time for renewal and new horizons. Let’s embrace the journey and make this month one to remember. 🌿💫
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🗞️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
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