KUALA LUMPUR, Malaysia, Oct. 4, 2022 /PRNewswire/ The Labuan Financial Services Authority (Labuan FSA)hosted a forum on "Unveiling Labuan as Asia's Islamic Digital Asset Centre - Pioneering New Asset Class" on 4 October 2022 in Kuala Lumpur, Malaysia. The forum will be hosted in conjunction with the Global Islamic Finance (GIFF2022) from 5 to 6 October 2022. In line with the commitment made by Labuan FSA in the Labuan IBFC Strategic Roadmap 2022-2026, the strategic goal of the Islamic Digital Asset Centre or in short, IDAC, is to attract more digital assets and Fintech players to Labuan, and to carve out a niche in the digital Islamic finance space. This is unique in the world and will provide an alternative platform to the conventional digital finance landscape. As demand for sustainable finance is on the rise, the delivery of Islamic financial instruments is given a new lease of life, brought about by the advent of Islamic Fintech or the digital delivery of Islamic fin
Alpadis Group is a Swiss-based business that delivers multi-jurisdictional corporate and bespoke private client services. It is headquartered in central Zurich and has a strong and growing presence in Asia through offices in Singapore, Hong Kong, Malaysia (Kuala Lumpur and Labuan) and Thailand. The Swiss firm was founded in 2005 by a small team of seasoned experts in wealth planning and remains independent and privately-owned to this day. Alpadis Group works closely with corporate clients, entrepreneurs, business owners, HNWIs, UHNWIs, and family offices. The specialists in the firm consist of seasoned and experienced experts, many of whom are members of national and international professional bodies, providing the full range of corporate services that ensure full compliance of the structures set up under their clients’ mandate and managed by Alpadis Group across different jurisdictions, as well as services to private clients to protect and consolidate their wealth and meet their g
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