A Labuan entity must complete the following annual matters to maintain its operation in Labuan, if applicable:
Annual Compliance | Applicable to | Due date every year |
Annual Tax Filing under the Labuan Business Activity Tax Act 1990 (LBATA) | All Labuan entities | On or before 31 March |
Annual Return under Section 109 of the Labuan Companies Act 1990
| All Labuan entities | No later than 30 days prior to the anniversary of the date of its incorporation. |
Audited Financial Statement | (i) Labuan licensed entities (ii) Labuan non-licensed entities | (i) Within 6 months from financial year end (ii) The adoption of accounts by the Shareholder(s) must be done within 9 months from the closing of the financial year-end and lodged to LFSA within 1 month from the date of adoption. |
Management Account | All Labuan non-trading and dormant entities | Within 6 months from financial year end |
Board of Directors’ Meeting in Labuan
| Pure equity holding company | At least once a year physically in Labuan |
Annual Licensing Fee | All Labuan licensed entities | On or before 15 January |
Internal Audit Report | All Labuan licensed entities | Before 31 March |
Information of the Company to be confirmed by the Board of Directors annually includes:
Submission timeline is appended as below:
Entities that are required to submit its audited financial statement would be required to appoint only a Labuan-approved auditor to carry out the external audit function on the company’s account.
The appointment of the external auditor will have to go through the company’s due diligence procedures and finally be subject to the Board of Director’s approval.
The purpose of internal audit report is to monitor the company’s compliance with the following Acts, Guidelines and Policies:
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