[Premia TNC] Weekly Newsletter 2025 Vol.70
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 | Duty Reduction on High-Strength Liquor
The recent Chief Executive’s Policy Address announced a strategic initiative to reduce the duty on liquors with over 30% alcohol content through a two-tier system effective October 16, 2024. Liquors priced above $200 will see duty charges drop from 100% to 10% for the portion exceeding $200, while those priced at $200 or below will maintain the current 100% duty rate. This applies to liquor volumes up to one liter, with larger containers calculated on a ‘value per liter’ basis. Inspired by the 2008 wine duty waiver, this move aims to boost high-end liquor trading, benefiting sectors like logistics, tourism, and premium food and beverage consumption, and creating jobs. The resolution, part of the Public Revenue Protection (Duty on Liquor) Order 2024, will be presented by the Secretary for Commerce and Economic Development under section 4(2) of the Dutiable Commodities Ordinance (Cap. 109).
🧑💻 Singapore | Enhancements to Senior, Uplifting, and Enabling Employment Credits
The Singapore government has extended three employment credit schemes to support senior workers, ex-offenders, and persons with disabilities. The Senior Employment Credit (SEC) will be extended until December 2026, with the highest wage support tier now starting at age 69. The Uplifting Employment Credit (UEC) and Enabling Employment Credit (EEC) will be extended until December 2028, providing wage offsets for employers hiring local ex-offenders and employees with disabilities, respectively. These extensions aim to promote inclusive employment practices and align with the Enabling Masterplan 2030.
🌎 Taiwan | Income Tax Incentives for Foreign Professionals
Foreign special professionals in Taiwan who meet certain conditions, such as having no household registration and residing in Taiwan for the first time due to work approval or holding an Employment Gold Card, can benefit from tax incentives for five years starting from the year they first reside in Taiwan for 183 days and earn over NTD 3 million. For each qualifying year, half of the salary income exceeding NTD 3 million is exempt from total comprehensive income for taxation, and the basic tax on overseas income does not apply. The five-year period begins the first year these conditions are met and cannot be chosen by the taxpayer. For example, if a professional meets these criteria in 2021, they can apply for the incentives from 2021 to 2025.
⚙️ Vietnam | Hue Aspires to Lead Vietnam’s Semiconductor Industry
Hue City People’s Committee has issued Plan No. 180/KH-UBND to implement the “Vietnam semiconductor industry development strategy to 2030 and vision to 2050,” aiming to transform Hue City into a hub for research, training, design, and manufacturing of semiconductor chips. The plan includes developing industrial parks for high value-added stages in the semiconductor value chain, creating an autonomous semiconductor ecosystem by 2050, and leveraging local universities for training and R&D. Key goals are infrastructure and human resource development, investment incentives, and attracting investment in design, packaging, testing, and MEMS technology. The plan also emphasizes forming institutions, research centers, and a startup ecosystem; promoting international cooperation; and ensuring environmental safety through green production projects.
📱 Malaysia | Enhancing Workplace Safety with the “Sehati” App: Steps to Take When an Injury Occurs
Employee safety is crucial, and while prevention is key, workplace injuries can still occur. After an injury, prioritize the injured person’s health by seeking immediate medical attention and reporting the injury to the employer. The “Sehati” application by PERKESO streamlines managing workplace injury claims by allowing employees to register, report injuries, upload necessary documents, complete required forms, and track claim progress. This ensures employees receive medical benefits and compensation efficiently, meeting legal and insurance requirements.
🏢 Dubai | Dubai Chamber Establishes Peruvian Business Council to Boost Trade Relations
The Dubai Chamber of Commerce has launched the Peruvian Business Council, its 61st Business Council, to enhance trade and investment relations between Dubai and Peru. The council aims to foster bilateral partnerships and support Peruvian companies in the Dubai market. During its inaugural meeting, attended by UAE Minister of State for Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi, members discussed priorities and strategies to boost economic ties. In 2024, non-oil trade between Dubai and Peru reached AED 8.3 billion, a 91% increase year-on-year, with 23 Peruvian companies registered with the Dubai Chamber as of Q1 2025.
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<Hong Kong>
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<Vietnam>
Date: Wednesday, May 29, 2025, 1:30 PM – 2:30PM GMT+8
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Premia TNC May Holiday Notice
Welcome, May! 🌼 The perfect time to reflect, renew, and rise to new challenges. Let’s make this month our best yet! 🌸🌿
🗞️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]
