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Corporate Service Providers |
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Wednesday, 15 June 2011 07:11 |
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All Labuan corporate service providers, management companies or registration agents as they are known in other jurisdictions, are governed by provisions contained in Part V of the Labuan Financial Services and Securities Act 2010.
Service providers are involved in the provision of services to other Labuan entities and are deemed a Labuan Trading Company, as defined in Section 2 of the Labuan Business Activity Tax Act, hence these firms have a yearly election of either paying a flat tax rate of MYR20,000 per annum or 3 percent of audited net profit.
Transactions conducted by all Labuan service providers must be in currencies other than the Malaysian Ringgit, except as permitted by the relevant legislations and authorities.
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Last Updated on Tuesday, 28 June 2011 18:18 |
