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LABUAN - Coggle Diagram
LABUAN
Return & Assessment
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there additional income to be taxed, DG issue notice of assessment
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Tax incentives
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50% abatement on employment income in Labuan/ co-located office/marketing office of non citizen manager
Labuan business activity
non trading activity
activity relating to holding of investments in securities, stock, shares, loans, depo or any properties situated in Labuan by Labuan entity on behalf
trading activity
Labuan insurer, reinsurer, takaful & retakaful
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Labuan activity not listed will be subject tax under ITA 24%
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- labuan entity carrying on Labuan Business activity chargeable under LBATA for each YA and not taxable under ITA
- still can make irrevocable election to be charged to tax under ITA
- election has to be furnished to DG 3m after BOBP for YA