It is important to consider which jurisdiction to choose for one’s international tax planning. Specifically, whether want to stay onshore or go offshore or midshore. Offshore, onshore, and midshore refer to different kinds of jurisdictions.
In view of widespread concerns and demands for tax transparency amid a rapidly globalising economy, the Organisation for Economic Co-operation and Development (OECD) presented a comprehensive action plan to curb tax base erosion and profit shifting (BEPS).
Individuals in high tax countries are commonly taxable on their world-wide income & capital gains e.g. Australia, UK, US, Canada, most of Western Europe.
Labuan Entity can enjoy the following Tax Benefits:-
Labuan Business Activity Tax Act 1990 (“LBATA”)
1. Being part of Malaysia, sharing common time zone with major Asian cities, complementing financial centres of Hong Kong, Singapore & Shanghai 2. A leading business and financial center in …