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[Premia TNC] Weekly Newsletter 2024 Vol.7

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 | Disclosure Requirements of Commission Payments in Profits Tax Return

Section 16(1) of the Inland Revenue Ordinance allows deductions for expenses like commissions, rebates, and discounts, given certain conditions. Taxpayers must disclose gross income and identify these payments separately in tax returns, providing recipient details. Non-disclosure of recipient information leads to disallowed deductions, yet recipients remain responsible for tax reporting.

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💰 Singapore | IRAS – Tax Treatment of Digital Tokens

Digital tokens, utilizing blockchain, represent value and are subject to Singapore’s income tax regulations. Companies receiving remuneration in digital tokens must comply with income tax in Singapore. For transactions lacking a market value in Singapore dollars, the digital token’s exchange rate applies. Profits from buying, selling, or mining digital tokens are taxable, except for long-term investments exempt from capital gains tax. The classification of gains considers factors like nature, ownership length, and transaction frequency.

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💳 Taiwan | Withholding Tax Settlement and Credit Card from 2024

Starting January 1, 2024, the tax bureau allows payments with corporate or representative credit cards via filing software. After tax settlements, a deduction receipt is provided, and payment history can be checked at

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🧾 Vietnam | The Government Grants Tax Exemptions to Numerous Businesses and Individuals in Vietnam

Decree No. 11/202/ND-CP grants tax exemptions in Ho Chi Minh City. Startups and innovative businesses enjoy a five-year corporate income tax exemption, meeting set criteria. Organizations and individuals dealing with capital contributions or equity participation in innovative startups are also exempt from corporate and personal income tax, respectively. The exemptions align with Resolution No. 98/2023/QH15 and continue until the specified period concludes.

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📂 Malaysia | The Opening of Foreign Workers’ Applications on October 10, 2023

Applications open on October 10, 2023, for hiring foreign workers in textile, barber, and goldsmith businesses. The quote is set at 7,500, including 5,000 existing workers. Apply through the Indian Chamber of Commerce, with no extensions after the quota is reached. Employers must comply with labor laws, provide certified accommodation, pay a minimum wage of RM1,500, and contribute to the Labor and Social Security Organization. Goldsmiths and textile companies are limited to 15% foreign workers. Barbershops require owners with a Certificate of Competency (SKM) and allow one local and two foreign staff for a minimum of three barber chairs.

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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.

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🆕 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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Exclusive Markdowns!

🌟 Premia TNC Hong Kong x Cathay | Unlock Rewards that Take you Places When you Partner with Premia TNC to Earn Over 10,000 Asia Miles!

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!

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🌟 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.

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🌟 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.

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🌟 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.

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⭐ Premia TNC Singapore x Oasia Hotel Downtown | Enjoy Exclusive Corporate Rates at Oasia Hotel Downtown, Singapore!

Kick back and relax with our special corporate rates at the Oasia Hotel Downtown, Singapore, exclusively extended to all clients of Premia TNC Singapore Pte. Limited. Elevate your stay to a realm of refined luxury.

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⭐ Premia TNC Singapore x The Clan Hotel | Exquisite Corporate Privileges Await at The Clan Hotel, Singapore!

Indulge in the epitome of luxury with our premium corporate rates at The Clan Hotel, Singapore, exclusively curated for esteemed clients of Premia TNC Singapore Pte. Limited. Elevate your corporate stay to unparalleled sophistication.

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Premia TNC Hong Kong Webinar

Uncover Key Insights into Hong Kong Company Formation and Maintenance

Discover Insights on Hong Kong Company Formation!
Attend our webinar on February 28, 2024 for valuable information, free consultations, and comprehensive materials. Enhance your understanding of corporate establishment. Book your spot today!

<Hong Kong🇭🇰>

Date: Wednesday, February 28, 2024, 4:00 – 5:00 PM
Target companies: Clients looking forward to Company Formation and Sustainability
Speaker: Consultant – Angela

→ Webinar participation application link

Premia TNC News

Premia TNC February Holiday Notice

Embrace the Lunar New Year in February with joy and prosperity! Wishing you a month filled with good fortune and exciting opportunities ahead. ✨

Check Our Complete Schedule for February

🗞️Writer: Faraaz
🗞️Productor: Julia ⋅ Felice

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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]