Whitepapers

PART A - GENERAL

1. Labuan Entity

• A Labuan company incorporated under the Labuan Companies Act 1990

• A Labuan foundation established and registered under the Labuan Foundations Act 2010

• A Labuan Islamic foundation established and registered under the Labuan Islamic Financial Services and Securities Act 2010

• A Labuan Islamic partnership as defined in the Labuan Islamic Financial Services and Securities Act 2010

• A Labuan limited partnership established and registered under the Labuan Limited Partnerships and Limited Liability Partnerships Act 2010

• A Labuan limited liability partnership established and registered under the Labuan Limited Partnerships and Limited Liability Partnerships Act 2010

• A Labuan Islamic trust as defined in the Labuan Islamic Financial Services and Securities Act 2010

• A Labuan trust as defined in the Labuan Trusts Act 1996

• A Malaysian Islamic bank licensee as defined in the Labuan Islamic Financial Services and Securities Act 2010

• A Malaysian bank licensee as defined in the Labuan Financial Services and Securities Act 2010

• Any Labuan financial institutions as defined in the Labuan Financial Services Authority Act 1996

• Any person declared by the Minister to be a Labuan entity under subsection 2B(2)

 

​​PART B - GENERAL RESPONSIBILITIES

1. Annual Return / Annual Solvency Declaration: Yes

2. Audited Financial Statement:   Business Activity Code 1 to 20 and 23 - Yes

                                                            Business Activity Code 21 and 22 - No (requires Management Account)

                                                            Dormant - No (Requires management Account)

   3. Board of Directors' Meeting in Labuan: Business Activity Code 22

   4. Annual Fee: All Labuan Entities

   5. Annual Licence Fee: All regulated Business Activities under LFSSA

   6. Internal Audit Report: All regulated Business Activities under LFSSA

   7. Other Reporting: As specified in LFSSA, its regulations and guidelines

   8. Comply with AML/CFT Requirements: Yes

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PART C - OTHERS

1. Requirement to Register TIN: Yes

2. Requirement to Submit CP204: No

3. Requirement to Register E Number: Yes

4. Requirement to Submit Form E (annually): Yes

5. Requirement to Prepare Form EA / CP22 / CP22A: Yes (if have staff)

6. Requirement to Register with EPF, SOCSO and EIS: Have Malaysian staff - Yes, Have Foreign Staff - No

7. Requirement to Submit Monthly Return to EPF, SOCSO and EIS: Have Malaysian staff- Yes, Have Foreign Staff - No

8. Requirement to Register with HRD: Yes, if meet the threshold set by HRD

9. Requirement to Submit Monthly Return to HRD: Yes, if meet the threshold set by HRD

10. Requirement to impose WHT for Non-resident: Lodge Tax under ITA-Yes, Lodge Tax under LBATA-No

11. Requirement to impose 2% WHT for Agents/Dealers, and Distributors: Lodge Tax under ITA-Yes, Lodge Tax under LBATA-To be Confirmed by the IRB

12. Requirement to Prepare CP58 and Submit CP107D: Lodge Tax under ITA-Yes, Lodge Tax under LBATA-To be Confirmed by the IRB

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PART D - COMPARISON OF TAXATION RESPONSIBILITIES FOR DOMESTIC COMPANY, LABUAN ENTITIES UNDER ITA AND LABUAN ENTITIES UNDER LBATA​​​​​

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