Auditor Appointment Procedure of Labuan Trading Company
All Labuan Company of trading activities would require to have their accounts to be audited whether the sales activities are from Malaysia or international. Labuan Company corporate tax is 3% for international sales or pay flat fee of RM20,000. For Malaysia sales, the corporate tax will be 24% on net profit payable to local Inland Revenue Board (IRB) under the Income Tax Act 1967. If your Labuan Company deals with both markets, the auditor will have the audit report made up to reflect “Labuan Business” and “Non-Labuan Business” activities.
For Malaysia business dealings, you need to report to Labuan FSA of your activities. Labuan Company Auditing Process is a step by step guide to assist you in getting the process timely for your tax filing. The IRB dateline to submit your corporate tax is 31st May, of which you should send your accounts for audit latest in the month of March, this would allow sufficient time for the auditor to complete their auditing of your accounting books to meet the 31st May dateline.
Here is the latest List of Labuan Approved Auditors by Labuan FSA for your selection. Once your account is audited, the auditor will refer to IRB’s website for the latest published exchange rate for your tax payment in Ringgit Malaysia.
Feel free to email us at firstname.lastname@example.org to assist you to appoint your Auditor. We “simplify complexities” on your Labuan Business.
Interested to set up Labuan company, feel free to send us the following form. We need sufficient information to better advise you if Labuan company is able to meet your objectives.