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Good offer Malaysia STANDARD
Foreign entrepreneurs wishing to register a company on the territory of Labuan, in this offshore jurisdiction, are especially attractive that it is possible to carry out commercial activities under conditions of sufficiently attractive taxation. In addition, it is also important that Malaysia, in which Labuan is located, has concluded an agreement with many countries to avoid double taxation. Meanwhile, in order to successfully conduct business with the help of a company registered here, it is necessary to understand the taxation peculiarities characteristic of this region.
Taxation system in Labuan
The taxation system in Labuan, as this region is part of Malaysia, is in compliance with the rules adopted in the country. So, according to these rules, individuals are considered tax residents of the region in those cases if the following conditions are met:
- during a calendar year a person is present in Malaysia for at least 182 days;
- If a person has been a resident of Malaysia for three of the last four years or has been present in the country for at least 90 days, then it is sufficient for him to live in the region for another 90 days in order to become the resident;
- If a person has been a resident of Malaysia for the last three years and intends to reside permanently in that country in the next calendar year, he will also be considered as the resident of Malaysia.
Residents of this offshore jurisdiction, unlike its non-residents, can count on a number of certain benefits when paying taxes.
Tax benefits for company registered in Labuan
The main advantage of organizations registered in the region is that territorial taxation is applied to them. The essence of such a system is that taxes are only levied on the revenues that are received in Malaysia. In addition, the offshore regime operating in this state assumes that organizations registered on its territory are exempt from taxes on the following types of revenues:
- Dividends received from an offshore company.
- 65% of income received as a result of activities of organizations providing legal, accounting, financial or secretarial services.
- The so-called second-tier dividends, which were received from dividends of a local offshore organization.
- Royalties paid by an offshore structure to a non-resident.
- Interest paid by the organization to a non-resident.
- Interest paid by the organization to the resident. The only exception is organizations that work in the banking sector, provide financial and insurance services.
- Incomes received from the provision of technical and management services.
Independently to understand the complexities of the tax legislation of the region is not easy enough, therefore, in order not to experience with this special difficulties, it is possible to use the services of our company, whose specialists are well versed in all such matters.
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