Labuan Forex License
Local legal entity
2.Proof of Residence
3.Certificate of Non-criminal Record
4.Proof of Non-bankrupt Record
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Financial Services Authority
Malay and English
License application form
Online application form
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Labuan is a federal territory of Malaysia that has its own tax system. Here is an overview of the taxation system in Labuan:
- Labuan is known for its favorable tax system for offshore companies. Companies that are incorporated in Labuan but do not carry out any business activity in Malaysia are subject to a low tax rate of 3% on their net profits.
- Companies that do carry out business activity in Malaysia are subject to Malaysia's standard corporate income tax rate of 24%.
- Labuan companies are required to file their tax returns by the end of March each year, and tax payments are due in two installments: the first installment is due by the end of June, and the second installment is due by the end of December.
- Labuan does not impose personal income tax on individuals.
Tax Payment Process:
- Labuan companies can make their tax payments online through the Labuan Financial Services Authority's website or at the tax authority's office.
- Companies are required to file a tax return and make their tax payments by the deadlines mentioned above.
- The tax authority may also conduct audits to ensure compliance with the tax laws.
In summary, Labuan has a favorable tax system for offshore companies, with a low tax rate of 3% on net profits. Labuan does not impose personal income tax on individuals. Companies are required to file their tax returns by the end of March each year and make their tax payments in two installments. Tax payments can be made online or at the tax authority's office, and companies may be subject to audits to ensure compliance with the tax laws.