[Premia TNC] Weekly Newsletter 2025 Vol.72
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 | IP Tax Concessions Under Hong Kong’s Patent Box Regime
Hong Kong’s Patent Box Regime, introduced through the Inland Revenue (Amendment) Ordinance 2024, offers a reduced 5% profits tax rate on qualifying income derived from eligible intellectual property (IP). This includes patents, copyrighted software, and plant variety rights developed through R&D. The regime, effective from the 2023/24 assessment year, aims to promote innovation and IP commercialization by rewarding enterprises that invest in R&D.
To qualify, taxpayers must be eligible persons deriving income from eligible IP and must elect into the regime. The preferential tax rate applies only to the portion of profits linked to qualifying R&D expenditure, determined using a “linked proportion” method. Taxpayers must maintain detailed records for at least seven years, and once the election is made, the standard two-tier profits tax rate no longer applies.
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📝 Singapore | IRAS: Country-by-Country Reporting (CbCR) Filing Requirements
Country-by-Country Reporting (CbCR) is an OECD initiative under the BEPS Project that requires Singapore-headquartered multinational enterprise (MNE) groups with at least S$1,125 million in consolidated revenue and operations in at least one foreign jurisdiction to file annual reports with IRAS. These reports, due within 12 months of the financial year-end, detail income, taxes paid, and business activities across jurisdictions to enhance tax transparency and assess transfer pricing risks. From FY 2022, MNEs must notify IRAS of their filing obligation within 3 months of the financial year-end via FormSG. Non-compliance may result in fines, director disqualification, or company deregistration.
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💴 Taiwan | Interest-Free Tax Relief Offered in Response to U.S. Tariffs
In response to financial difficulties caused by U.S. tariffs, Taiwan’s Ministry of Finance Southern National Tax Bureau is offering interest-free tax payment extensions of up to one year or installment plans over 36 months for various taxes, including income, VAT, and property tax. Eligible applicants include businesses with reduced revenue, individuals facing job-related income loss, and recipients of government tariff-related aid. Applications must be submitted by June 30, 2025, with supporting documents, either online via the e-tax portal or by mail.
📈 Vietnam | FDI Inflows to Ho Chi Minh City Soar in Yearly Comparison
At a meeting on May 8, the Ho Chi Minh City People’s Committee reported that the city attracted over 1.5 billion USD in FDI in the first four months of 2025, a 64.6% increase year-on-year, including 12 innovation and R&D projects worth 52 million USD. To sustain this momentum, the city plans to enhance the investment environment, streamline administrative procedures, and promote digital transformation. Additionally, HEPZA aims to attract investors through a special mechanism, expand industrial land by 1,000 hectares over three years, and invest in infrastructure for four industrial park projects in 2025.
🧾 Malaysia | Consolidated e-Invoice [Issue 1 of 2]
Under Malaysia’s e-Invoice system, suppliers must issue e-Invoices for all transactions, but for buyers such as individuals or certain businesses who do not require them, suppliers may issue regular receipts and later submit a monthly consolidated e-Invoice summarizing these transactions. This must be done within seven calendar days after the month ends. Consolidation is not allowed for most self-billed e-Invoices, except in specific cases like payments to non-business individuals or insurance claims. Some transactions still require individual e-Invoices and cannot be consolidated.
🏢 Dubai | Finance Ministry Waives Corporate Tax Late Registration Penalties
The UAE capital markets are demonstrating strong resilience amid global economic challenges, driven by the influx of high-net-worth individuals and global asset managers, according to Prasad Chari of Emirates NBD. Speaking at the Capital Market Summit 2025, Chari noted that long-term confidence from local and regional investors is bolstering the market’s capacity to absorb new offerings, even during volatility. Successful IPOs like DEWA, TECOM, Dubai Taxi, and Spinneys underscore this strength. While IPO activity has slowed in 2025, other transactions such as takeover bids and block trades are sustaining liquidity and investor engagement, with capital raised expected to match or exceed last year’s levels.
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🌟 8 Strategic Benefits to Expand Your Business in Vietnam with a Singapore Holding Company and Expert Support: Enjoy Tax Savings and No Withholding on Dividends!
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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]
