[Premia TNC] Weekly Newsletter 2025 Vol.74
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 | Abolition of MPF Offsetting Takes Effect on 1 May 2025
Starting May 1, 2025, employers in Hong Kong can no longer use mandatory MPF contributions to offset severance or long service payments (SP/LSP) for work done after this date, though voluntary contributions and contractual gratuities may still be used. This rule also applies to occupational retirement schemes, school provident funds, and certain overseas retirement schemes. To support employers, the Labour Department has introduced a 25-year Subsidy Scheme (SSA) to help cover SP/LSP costs for post-transition employment. Employers must first pay SP/LSP as required before applying through the SSA.
🏢 Singapore | Singapore Expands SkillsFuture Aid to Part-Time Learners
The SkillsFuture Level-Up Programme (SFLP), introduced in Budget 2024, supports mid-career Singaporeans aged 40 and above in upskilling through long-form training. The SkillsFuture Mid-Career Training Allowance, which previously offered up to $3,000/month for full-time training, is now extended to selected part-time programmes, providing a fixed $300/month to help cover incidental costs. Each individual can receive the allowance for up to 24 months in total, across both full-time and part-time training. Further details on eligible courses will be announced by the Ministry of Education.
💰 Taiwan | Common Corporate Tax Filing Errors
The Central Region National Taxation Bureau has highlighted common errors in 2024 corporate income tax filings, urging businesses to ensure compliance. Key issues include unreported foreign exchange income, incorrect export income recognition, and failure to report early-year sales by small enterprises. Mistakes in cost reporting involve misclassifying scrap sales and not deducting import tax refunds. Operating expenses often lack proof of business relevance, especially for overseas staff and bad debts. Non-operating income errors include unreported capital gains, deemed interest on interest-free loans, and underreported subsidies or overseas income. Investment firms may understate retained earnings by not using the equity method, and foreign tax credits are frequently miscalculated by not deducting related expenses.
📈 Vietnam | Vietnam’s Trade Hits $313 Billion, FDI Sector Takes the Lead
In the first half of May 2025, Vietnam’s total import-export value reached 36.09 billion USD, down 6.8% from the second half of April. By May 15, the cumulative trade value hit 313.26 billion USD, up 15.3% year-over-year, with FDI enterprises contributing 211.59 billion USD (up 15.5%). Exports in early May dropped 18.3% to 16.88 billion USD, while total exports by May 15 reached 157.5 billion USD, up 13.3% annually. FDI firms exported 13.24 billion USD in early May (down 5.7%), totaling 112.36 billion USD by mid-May, accounting for 71.3% of national exports. Imports rose 6.2% in early May to 19.21 billion USD, driven by electronics, fabrics, and machinery. Total imports by May 15 reached 155.76 billion USD, up 17.4% year-over-year, with FDI firms importing 99.23 billion USD (up 18.4%), making up nearly 64% of the total. The trade surplus stood at 1.74 billion USD.
📱 Malaysia | E-Commerce Trends in Malaysia (Issue 1 of 3)
E-commerce in Malaysia is rapidly transforming, driven by widespread smartphone usage, secure digital payment options, and a tech-savvy population. As mobile commerce (M-commerce) becomes the norm, platforms like Shopee and Lazada are optimizing for seamless mobile experiences. Simultaneously, the rise of cashless payments through GrabPay, Touch ‘n Go, and Boost reflects consumers’ demand for convenience and security. To stay competitive, Malaysian retailers must embrace mobile-first strategies and integrate contactless payment solutions. Stay tuned for our next newsletter, where we will explore more emerging e-commerce trends in Malaysia.
🏦 Dubai | AED 11B in Industrial Projects Conclude UAE’s 2025
The fourth edition of Make it in the Emirates, held from May 19–22, 2025, at the Abu Dhabi National Exhibition Centre, concluded as the most successful yet, drawing over 122,000 visitors, which was a twentyfold increase from last year. Hosted by the Ministry of Industry and Advanced Technology with partners like ADNOC, the event showcased innovations across 12 strategic sectors, including clean energy, aerospace, AI, and traditional crafts. It resulted in AED 11 billion in new industrial projects, AED 7.8 billion in offtake agreements, AED 40 billion in financing pledges, and the launch of the AED 1 billion Emirates Growth Fund. The forum also advanced the National ICV Program, boosted Emirati employment, and emphasized youth engagement with 3,000 participants and 1,200 job offers. With 80% of companies planning to return, the next edition is set from the 4th to the 7th of May, 2026.
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Premia TNC June Holiday Notice
A vibrant month to celebrate progress, embrace change, and step confidently into new adventures. Let’s rise and shine! ☀️✨
🗞️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]
