NOTIFICATION ON AMENDMENT OF LABUAN LAWS

Pleased to inform that the Labuan Companies (Amendment) Act 2022, the Labuan Financial Services and Securities (Amendment) Act 2022 and the Labuan Islamic Financial Services & Securities (Amendment) Act 2022 have been gazetted on 9 June 2022 and come into effect today, 10 June 2022. A copy of each the amendment Acts is attached herewith for reference.

Among the objectives of the amendments are to further strengthen Malaysia’s position as a country that adopts best practices and international standards related to money laundering prevention and best tax practices. The amendments also fulfilled the commitment of the Malaysian Government to ensure compliance with international tax standards as well as to ensure the legislation of Labuan International Business and Financial Centre remains modern and updated.

For any clarification on the amendments, please contact the following-
Cik Norleyah binti Rosli or Puan Shazana Awang Samat
Legal & Secretarial Department, Labuan FSA
DID : +603-8873 2000
Email: norleyah@labuanfsa.gov.my / shazana@labuanfsa.gov.my