E Newsletters Archives - Page 4 of 4

Navigating the recent tax changes in Singapore, Malaysia, Hong Kong, & China

February 22, 2024April 24, 2024 boardroomsuperadmin

Navigating Tax Changes in the Year of the Dragon

Happy Lunar New Year! As we step into the Year of the Dragon, we are pleased to share key insights into Asia's tax landscape. This month, we take a closer look at the various tax changes across the region, and help you navigate your way through each of them.

Our Regional Tax Team is committed to assist you in navigating these changes, to ensure your business is well-positioned for success throughout the Year of the Dragon and beyond.

Thinking About Starting a Business in Singapore? Here's what you need to know

Singapore's economic stability makes it a magnet for businesses. There are endless opportunities for entrepreneurs, regardless of the industry. Our latest article,Startup companies in Singapore: where are the opportunities?, sheds light on the key insights for a successful set-up and discover how BoardRoom's expertise can help your company soar.

Singapore

Fundamental Shift in Tax Landscape: Introduction of Section 10L in Singapore
Singapore has recently enacted Section 10L in the Income Tax Act, marking a fundamental shift in the tax landscape. Effective from 1 January 2024, gains from the sale of foreign assets will be treated as taxable income if the entity lacks adequate economic substance in Singapore or if the gains arise from the disposal of a foreign Intellectual Property Right (IPR).

This move is a clear signal of Singapore's commitment to prevent international tax avoidance risks and attract substantial economic activities. We share more on this in our report.

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Malaysia

Capital Gains Tax: Unlocking Opportunities in Malaysia
Our spotlight shines on Malaysia's tax landscape, specifically the notable exemption on gains from the disposal of shares in unlisted Malaysian-incorporated companies.

This tax exemption is a strategic move to encourage investment in unlisted Malaysian companies, potentially boosting capital inflows, supporting local businesses, and promoting economic growth in the Malaysian market. Find out what this means for you in our report.

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Hong Kong

Pillar Two of BEPS 2.0 Implementation: Hong Kong's Proactive Approach
The Hong Kong government is taking active steps towards aligning with global efforts to ensure multinational enterprises contribute their fair share of taxes. In line with Pillar Two of BEPS 2.0 framework, Hong Kong plans to adopt the global minimum tax rate of 15% and introduce a domestic minimum top-up tax starting from 2025.

As part of a collaborative approach, a consultation process is currently underway to gather feedback on the proposed implementation, and the legislative amendments are expected to be introduced in the second half of 2024. Our report takes a closer look at what this will mean for businesses operating in the region.

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China

Foreign Trade and Investment: Navigating Policy Changes in China
As China remains a key player in the global economy, it is crucial to stay updated on all the various policy changes that will impact foreign trade and investments. With all the measures that China has made on their foreign-trade policies to help encourage investments, take a deep dive in our report to see how these policies will affect your business.

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Beyond Compliance: How ESG Factors Impact Corporate Sustainability

February 22, 2024April 24, 2024 boardroomsuperadmin

2024, the year where future-ready companies will position sustainability at the core of their business strategies. ESG, once a complex and unfamiliar scape is now increasingly the focus of companies worldwide. The days where a company's performance is assessed by its financial bottom line is long gone. In today's world, investors and stakeholders place equal importance to how a company navigates environmental, social, and governance (ESG) factors, alongside traditional financial metrics.

But what factors affect your company's corporate sustainability initiatives and in turn, impacts profitability? We share more in our latest report.

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Malaysia’s Companies (Amendment) Bill 2024 and Accelerated Transfer Process from ACE to Main Market

February 22, 2024April 24, 2024 boardroomsuperadmin

As 2023 wrapped, the Malaysian business world saw some significant updates that were designed to benefit the companies that they affect. We take a closer look at these developments and share what you need to know about:

Dewan Negara passing the Companies (Amendment) Bill 2023 on 13 December 2023 and,
The introduction of the accelerated transfer process by the Securities Commission Malaysia (SC).

Companies (Amendment) Bill 2023 passed by Dewan Negara on 13 December 2023

The Companies (Amendment) Bill 2023 was passed by Dewan Rakyat on 28 November 2023 and by Dewan Negara on 13 December 2023. Some key amendments to the Companies Act 2016 include the establishment of a framework for reporting the beneficial ownership of companies and the enhancement of existing provisions regarding the restructuring and corporate rescue mechanisms of companies. Learn about all the changes in our report.

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Transfer of ACE Market Listed Corporation to the Main Market via the Accelerated Transfer Process

Aimed to enhance the stock market vibrancy, and reduce market friction, the Securities Commission Malaysia (SC) has recently introduced an accelerated transfer process for eligible ACE Market-listed companies. This move will facilitate the transition of ACE Market-listed companies to the Main Market of Bursa Malaysia.

In order to qualify, these companies must fulfil the profit requirements set for the Main Market listing. The regulatory framework governing this initiative came into effect on 1 January 2024, following amendments to the Equity Guidelines, as announced by the SC.

The introduction of the streamlined and expedited transfer process is designed to encourage ACE Market-listed companies to continually enhance their corporate values, fostering sustainable growth for shareholders. We share more on these changes in our report.

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Please reach out to your respective client managers in BoardRoom or email us at [email protected] should you require further clarification.

Our mailing address is: [email protected]

Latest tax updates on SG’s Foreign-Sourced Disposable Gains Tax, HK’s Onshore Equity Disposable Gains, and more!

January 18, 2024April 24, 2024 boardroomsuperadmin

18 January 2024

All the Latest Tax Policies and Amendments from Around the Region

Welcome to the first issue of BoardRoom’s Tax Insights for 2024. With the recent tax changes in Malaysia, our Tax team will be conducting a complimentary webinar to help employers and directors navigate these updates. This issue will also cover Singapore’s recently announced Foreign-Sourced Disposal Gains Tax Regime and Hong Kong’s Tax Certainty Enhancement Scheme for Onshore Equity Disposal Gains.

Take Workplace Performance to The Next Level with Employee Share Option Plans

In a recent report, it was found that over 80% of companies in Asia use employee share plans as a strategy for growth. BoardRoom explores the potential benefits and drawbacks of employee share options plans (ESOPs) for your business as a strategy for growth. Discover their possible pros and cons here.

Malaysia

Complimentary Tax Webinar on 31 January
With all the changes in the tax landscape in Malaysia, the obligation to stay abreast falls on the company's officers and directors. How will these changes affect the directors and the company in general?

Join us in our upcoming complimentary webinar with our team of experts as they share more on the different tax obligations that employers cannot overlook, to the tax changes announced during the recent Budget that may impact your organisation’s bottom line. Register now to secure your spot.

Date: 31 January 2024
Time: 2p.m – 3.30p.m