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Q：
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Does a Labuan Company need to file financial statements?
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A：
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Yes. The financial statements are required to be laid before the meeting of members not more than 9 months from the closing of financial year end. The said financial statements shall be circulated to all members not less than 7 days before the date of meeting and shall be lodged with Labuan Financial Services Authority (LFSA) within 1 month from the date of the said meeting of members.
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Q：
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Does a Labuan Company need to pay any renewal fee to LFSA?
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A：
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Yes. The annual renewal fee is payable to Labuan FSA on or before the anniversary of incorporation.
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Q：
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Are there any economic substance requirements for a Labuan company?
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A：
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Section 2B(1)(b) of the Labuan Business Activity Tax Act 1990 (“LBATA”) stipulates that Labuan entities must:
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maintain a sufficient number of full-time employees in Labuan;
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incur an adequate level of annual operating expenditure in Labuan; and/or
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demonstrate that management and control are exercised in Labuan.
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Q：
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Does a Labuan Company need to pay corporate tax in Malaysia?
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A：
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Yes. Labuan companies are required to submit annual tax return with the Malaysian Director General of Inland Revenue by 31 March of that year of assessment.
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Q：
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When does a Labuan company need to file its annual return?
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A：
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All Labuan companies are required to lodge with LFSA an annual return for each calendar year not later than 30 days prior to the anniversary of its incorporation date.
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FAQ
