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Malaysia White Listed by OECD |
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Sunday, 21 February 2010 16:00
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Kuala Lumpur, Monday [3 March 2010] - The Organisation for Economic Co¬operation and Development (OECD) has last week listed Malaysia in the “White List”. The White List refers to a list of jurisdictions deemed to have substantially implemented OECD standards for transparency and exchange of information between countries.
“Malaysia is committed to internationally agreed standards and practices governing international financial services and transactions, especially in the area of exchange of information. The white-¬listing is a testimony to this fact”, said Dato’ Seri Ahmad Husni Hanadzlah, Minister of Finance II. He added that in relation to the Labuan International Business and Financial Centre (LIBFC), the white¬-listing, in tandem with the new eight acts of legislation that have recently been passed by Parliament, sets a higher platform for Labuan Financial Services Authority to position LIBFC as a major regional and global offshore financial centre.
Since April 2009, Malaysia has signed enhanced Double Taxation Agreements (DTAs) in regards to the sharing of information with twelve following countries – Belgium, Brunei, France, Ireland, Japan, Kuwait, Netherlands, San Marino, Senegal, Seychelles, Turkey and United Kingdom. Malaysia will continue to enhance its DTAs with other countries so as to ensure it is always in line with internationally agreed standards and practices on exchange of information (EOI).
The original release as issued by the Ministry Of Finance, Malaysia can be downloaded using the following link : Malaysia (Labuan) White Listed By OECD.
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Last Updated on Thursday, 23 June 2011 23:34
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