Weekly Newsletter 2025 Vol.82
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 | Workplace Preparedness for Severe Weather
The Labour Department’s updated Code of Practice urges employers to prioritize employee safety and maintain operations during adverse weather and “extreme conditions” by establishing flexible, compassionate work arrangements. These include clear procedures for reporting to work, early release, remote work, and resuming duties, with consideration for individual circumstances and transport availability. Employers must involve staff in planning, provide safe workplaces and transport if needed, and ensure compliance with safety and compensation laws for injuries during travel in severe weather.
✉️ Singapore | Significant Milestone for Korea and Singapore
Singapore and South Korea celebrated 50 years of diplomatic relations on June 30, 2025, with a reception in Seoul, aiming to elevate their ties to a strategic partnership. Singaporean Ambassador Eric Teo highlighted the nations’ shared values and history of cooperation, noting a 400-fold increase in bilateral trade since 1975 and growing connections in tourism, education, and investment. A recent call between President Lee Jae Myung and Prime Minister Lawrence Wong underscored plans to deepen collaboration in areas like AI, green tech, cybersecurity, and sustainability, reflecting a strong commitment to a rules-based international order and mutual growth.
💰 Taiwan | No Penalty for Up to Three Invoice Errors Annually
Businesses in Taiwan may correct up to three GUI errors annually without penalty, exceeding this limit results in fines. To correct an error, the receipt and deduction copies must be retrieved, marked “invalid,” and attached to the stub copy before issuing a new invoice. For electronic invoices, the printed certificate must also be invalidated, and the correction uploaded to the Ministry of Finance’s platform within the required timeframe. All corrections must be properly recorded in the relevant tax filing to comply with Article 24 of the Uniform Invoice Usage Regulations.
💻 Vietnam | Legal Entity Required for Foreign E-commerce in Vietnam
Vietnam’s draft Law on E-commerce aims to tighten oversight of cross-border platforms by requiring those with a “.vn” domain, over 100,000 annual transactions, or a Vietnamese interface to establish or authorize a local legal entity. Platforms must verify sellers, moderate content, retain data for three years, and respond to authority requests within 24 hours. The law promotes transparency, fair competition, and green practices while prohibiting misleading algorithms, false advertising, and unjustified editing of consumer feedback. Businesses advocate for post-inspection mechanisms and equal treatment for domestic and foreign platforms to reduce regulatory burdens and ensure fairness.
🔑 Malaysia | Data and Compliance Report: Key Info [Issue 3 of 4]
To ensure smooth DCR submissions and maintain regulatory compliance, firms should standardize data collection using consistent templates, train compliance teams on evolving AML/CFT guidelines, utilize BNM’s DCR report card for regular self-assessments, and leverage technology, such as AI-powered client screening tools, in order to streamline onboarding and detect suspicious transactions. Stay tuned for our upcoming newsletter, where we will share more key insights.
⏳ Dubai | FTA Urges Timely Corporate Tax Registration
The UAE Federal Tax Authority (FTA) has reported a significant rise in corporate tax registrations following the launch of its Late Registration Penalty Waiver initiative. This waiver allows businesses to avoid the AED 10,000 fine by submitting their tax return or annual declaration within seven months, rather than nine, from the end of their first tax period. Applicable only to the first tax period, the waiver remains valid even if the original deadline has passed. Since its introduction in April 2025, over 576,000 businesses have registered, an increase of 38,000. To qualify, entities must file via the EmaraTax platform. FTA Director General Khalid Al Bustani highlighted the initiative’s role in promoting compliance, transparency, and economic growth.
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Premia TNC July News
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Premia TNC July Holiday Notice
A month to bloom, grow, and celebrate how far we’ve come. The best is yet to come! 🌸🌞
🗞️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]