Offshore Market Flashcard

Front

What is the primary regulatory authority for Labuan IBFC?

Back

Labuan Financial Services Authority (FSA)

Front

What is the tax rate for offshore trading activities in Labuan?

Back

3% of audited net profits

Front

What is the main characteristic of an Offshore Financial Center?

Back

Low tax environment and maximum confidentiality.

Front

What is the role of Labuan FSA?

Back

To promote and develop Labuan as an international center for business and financial services.

Front

What is the maximum deductible amount for interest payments to Labuan entities?

Back

67%

Front

What are the two types of funds mentioned in the Offshore Fund/Asset Management section?

Back

Private funds and Public funds.

Front

What is the governing legislation for Labuan trust companies?

Back

Labuan Financial Services and Securities Act 2010, Labuan Islamic Financial Services and Securities Act 2010, Labuan Companies Act 1990, and Labuan Business Activity Tax Act 1990.

Front

What is the significance of Labuan IBFC in terms of cash transactions?

Back

There is no cash transaction in Labuan IBFC.

Front

What is the tax structure for companies registered in Labuan?

Back

Benefits of low costs and low tax environment.

Front

What is the main clientele of Labuan IBFC?

Back

Mainly non-residents.