Weekly Newsletter 2025 Vol.86
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 | Guide to Renewing Food Import License in Hong Kong
In Hong Kong, businesses involved in importing, distributing, or selling food must hold a valid Food Import License issued by the Food and Environmental Hygiene Department (FEHD). This license, generally valid for three years, must be renewed 30–50 days before expiry to ensure compliance with food safety regulations and avoid fines of up to HK$50,000, suspension of operations, or legal liabilities. The renewal process involves completing the FEHD renewal form, submitting a valid Business Registration Certificate and compliance documents, paying the HK$180 fee, and awaiting FEHD’s review, which may include inspections. Timely renewal safeguards business continuity and maintains compliance with Hong Kong’s food safety standards.
🔑 Singapore | ChatGPT-5 Marks Major Leap in AI Development
On August 7, OpenAI unveiled ChatGPT-5, calling it a major step forward in artificial intelligence as global competition intensifies. Rolled out free to nearly 700 million weekly users, CEO Sam Altman described it as “a PhD-level expert” in areas like coding, writing, and healthcare, though still short of full AGI since it doesn’t adapt in real time. Industry leaders, including Mark Zuckerberg, hailed such progress as transformative, while rivals like Elon Musk argued their models outperform GPT-5. OpenAI emphasized safety and honesty in its design and, alongside the release, introduced two open-weight models to promote transparency and compete with open-source alternatives.
💵 Taiwan | Tax Registration Required for Stores in Trial Operation
The Ministry of Finance’s Central Taiwan National Tax Bureau Puli Branch reminds that businesses with physical stores must complete tax registration before even trial operations. Online-only sellers may temporarily waive registration if monthly sales stay below NTD100,000 for goods or NTD50,000 for services, but must register once these thresholds are met. If sales exceed NTD200,000 monthly, or if required by the Bureau due to business nature or scale, sellers must issue Government Unified Invoices (GUI) at a 5% tax rate with input tax deductions. Failure to register may result in fines of NTD3,000–30,000, while tax evasion can incur penalties up to five times the evaded tax.
🛥️ Vietnam | Ho Chi Minh City Proposes to Establish 4 Free Trade Zones
Ho Chi Minh City is advancing research on establishing four Free Trade Zones (FTZs) linked to strategic infrastructure hubs such as seaports, railways, and border gates, including Cai Mep Ha (3,764 hectares in Ba Ria–Vung Tau for logistics, high-tech, and urban services), Can Gio (1,000–2,000 hectares tied to the planned international transit port), and two 100-hectare zones in Binh Duong (Bau Bang and An Binh Ward) connected to the future Ho Chi Minh City–Loc Ninh railway. Backed by strong government support and investor interest from corporations like DP World, Vingroup, and Geleximco, these projects face challenges due to an incomplete legal framework, inconsistent policies on tax and investment incentives, and administrative boundary changes. It is crucial to conduct comprehensive surveys and policy alignment to leverage regional strengths, Binh Duong’s industry, Ba Ria–Vung Tau’s marine economy, and Ho Chi Minh City’s financial hub.
📑 Malaysia | MBRS Enforcement and Reporting Transformation (Issue 1 of 4)
The Malaysian Business Reporting System (MBRS), introduced by the Suruhanjaya Syarikat Malaysia (SSM), has moved from a voluntary to a compulsory framework, requiring all registered companies to submit annual financial reports in the standardized XBRL format. This enforcement strengthens corporate governance by ensuring accuracy, transparency, and comparability in financial reporting while enhancing regulatory oversight. Businesses must comply with strict submission deadlines to avoid penalties, with the system benefiting not only companies but also investors, auditors, and regulators. Stay tuned for our upcoming newsletter for more insights on MBRS compulsory enforcement.
📈 Dubai | Dubai’s Q1 2025 GDP Hits AED119.7B, Up 4% Year-on-Year
Dubai’s economy recorded AED119.7 billion in GDP in Q1 2025, marking 4% year-on-year growth driven by strong performances across key sectors. Human Health and Social Work led with 26% growth, while Real Estate rose 7.8% to AED9 billion, Financial and Insurance grew 5.9% to AED16 billion, and Wholesale and Retail Trade remained the largest sector at AED27.5 billion (23% of GDP). Manufacturing, Transport, Accommodation, Food Services, and Telecommunications also posted steady gains. Officials highlighted that this momentum supports Dubai’s Economic Agenda D33, aiming to double the economy within a decade, reinforcing the emirate’s resilience, diversification, and innovation-led growth.
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<Taiwan>
Date: Monday, August 25, 2025, 11:00 AM – 12:00 PM
Target companies:
Entrepreneurs, global investors, and professionals facing challenges with Taiwan’s bookkeeping requirements can now gain clarity and confidence while discovering how outsourcing can help them stay ahead in Taiwan’s dynamic business landscape.
Premia TNC August News
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Premia TNC August Holiday Notice
August is here — a time to reflect, refresh, and reach for new heights. Let’s embrace the warmth of this month and continue shining brighter than ever before. The journey is just getting started! 🌻☀️
🗞️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]