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:

  1. Labuan Foundation as Investment Holding – 0% tax with management account (unaudited)
  2. Labuan Foundation as Trading Activities – opt to pay 3% on net profit with audited financial report
  3. 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).

CPTRUST Support Services for Labuan Foundation
CPTRUST Support Services for Labuan Foundation

Labuan Foundation Annual Compliance Due Dates

Type of ComplianceReporting AuthorityDue Dates
Annual ReturnLabuan FSA1 month before the anniversary of Foundation incorporation date
LFSA Annual Fee Labuan FSAOn or before the anniversary of Foundation Incorporation Date
Company Secretary Fee RenewalCP Trust Co Ltd1 month before the anniversary of Foundation Incorporation Date
Corporate Tax FilingInland Revenue Board MalaysiaBy 31st March, extendable to 31st May
Financial Reports of Management Account/Audit Report Year Ended 31st Dec1.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 NoType of Support & ServicesTimeline
1Annual Tax Filing to Inland RevenueYearly
2Labuan FSA Annual Fee Yearly
3Endowment of Assets1 to 2 weeks
4Update of Beneficiaries1 to 2 weeks
5New appointment and/or removal of Founder1 to 2 weeks
6New appointment and/or removal of Officer1 to 2 weeks
7New appointment and/or removal of Council Member1 to 2 weeks
8New appointment and/or removal of Beneficiary1 to 2 weeks
9New appointment and/or removal of Supervisor1 to 2 weeks
10Change of Foundation Name1 week
11Amend the Charter or Articles1 to 2 weeks
12Update Letter of Wishes1 week
13Opening of Bank account for Foundation3 days
14Change cheque signatory for the Bank Account2 days
15Renewal of Company Secretary FeeYearly
16Application of Representative Office30 to 45 days
17Dissolution of Labuan Foundation2 months
18Opening of additional bank accounts14 days

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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.

 

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Subject: General Enquiry on Labuan Foundation

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