CPTRUST Support Services for Labuan Foundation
Labuan Private Foundation annual tax compliance is easy and straight forward, depends on your activities of the foundation. There are three (3) options you can choose for the annual tax filing to Labuan Inland Revenue Board as follows:
- Labuan Foundation as Investment Holding – 0% tax with management account (unaudited)
- Labuan Foundation as Trading Activities – opt to pay 3% on net profit with audited financial report
- Labuan Foundation as Trading Activities – opt for pay flat tax fee of RM20,000 with management account (unaudited)
Switching the tax option to another is possible with some adjustments required on financial reportings and send notifications to relevant authorities ie Labuan FSA, Inland Revenue Board and Auditor (if any).
Labuan Foundation Annual Compliance Due Dates
|Type of Compliance||Reporting Authority||Due Dates|
|Annual Return||Labuan FSA||1 month before the anniversary of Foundation incorporation date|
|LFSA Annual Fee||Labuan FSA||On or before the anniversary of Foundation Incorporation Date|
|Company Secretary Fee Renewal||CP Trust Co Ltd||1 month before the anniversary of Foundation Incorporation Date|
|Corporate Tax Filing||Inland Revenue Board Malaysia||By 31st March, extendable to 31st May|
|Financial Reports of Management Account/Audit Report Year Ended 31st Dec||1.Labuan FSA|
2.Inland Revenue Board Malaysia
3.CP Trust Co Ltd
|By 31st March, extendable to 31st May|
|Employer’s Return (E) (if there is any hiring of staffs)||Malaysia Inland Revenue Board||By 31st March|
Complete secretarial support services made available to meet your needs for easy management of your Labuan Private Foundation! Feel free to contact us anytime!
|Item No||Type of Support & Services||Timeline|
|1||Annual Tax Filing to Inland Revenue||Yearly|
|2||Labuan FSA Annual Fee||Yearly|
|3||Endowment of Assets||1 to 2 weeks|
|4||Update of Beneficiaries||1 to 2 weeks|
|5||New appointment and/or removal of Founder||1 to 2 weeks|
|6||New appointment and/or removal of Officer||1 to 2 weeks|
|7||New appointment and/or removal of Council Member||1 to 2 weeks|
|8||New appointment and/or removal of Beneficiary||1 to 2 weeks|
|9||New appointment and/or removal of Supervisor||1 to 2 weeks|
|10||Change of Foundation Name||1 week|
|11||Amend the Charter or Articles||1 to 2 weeks|
|12||Update Letter of Wishes||1 week|
|13||Opening of Bank account for Foundation||3 days|
|14||Change cheque signatory for the Bank Account||2 days|
|15||Renewal of Company Secretary Fee||Yearly|
|16||Application of Representative Office||30 to 45 days|
|17||Dissolution of Labuan Foundation||2 months|
|18||Opening of additional bank accounts||14 days|
Connect With Us Today!
Feel free to email us anytime for support and services that you may need from time to time. We made it seamless easy and fast for you! Labuan Private Foundation is the Asia only one wealth management tool governed and protected by Foundation Act.
We will reply you within 48 hours! Thank you for your patience.