This follows the recently signed MoU between both parties KUALA LUMPUR, Malaysia, Oct. 31, 2022 /PRNewswire/ Delegates from Labuan International Business and Financial Centre Incorporated Sdn Bhd (Labuan IBFC Inc.), the official marketing agency for the Labuan Business and Financial Centre (Labuan IBFC) visited Bandung, Indonesia to kickstart joint marketing initiatives post the signing of the Memorandum of Understanding (MoU) between Labuan IBFC Inc. and Kamar Dagang dan Industri Indonesia (KADIN) of West Java in Labuan, Malaysia on 16September 2022. Labuan IBFC Inc. and Kadin West Java The visit was meant to highlight and promote the recent MoU signing to members of KADIN West Java as well as the Indonesian media. To recap, the MoU aims to support Labuan IBFC Inc.'s market development activities in Indonesia and to enable the members of KADIN West Java to leverage on Labuan IBFC's suite of products and services according to their business requirements. The MoU shall be vali
The
Labuan Business Activity Tax (Requirements for Labuan Business
Activity) Regulations 2018 ( the
Principal Regulations ) set out the requirements relating to
the minimum amount of annual operating expenditure in Labuan and
the minimum number of full time employees in Labuan that have to be
fulfilled by a Labuan entity in order to be subject to a tax rate
of 3% for a Labuan trading activity
1 or 0% for a
Labuan non-trading activity
2 under the Labuan
Business Activity Tax Act 1990 ( the Act ).
If a Labuan entity does not fulfil the minimum operating
expenditure or employment requirements specified in the Principal
Regulations for a basis period for a year of assessment, it will be