Labuan head addresses growing tax transparency
Malaysia's low-tax jurisdiction, like other such territories, is seen to be facing a challenge amid the take-up of information-exchange initiatives. AsianInvestor spoke to its director-general.
Malaysia is among the many Asia-Pacific countries that will begin exchanging tax information under the Organisation for Economic Cooperation and Development’s common reporting standard (CRS) next year.
In addition, the US’s Financial Account Tax Compliance Act (Fatca) – which requires financial institutions in cooperating jurisdictions to file reports on their American clients to Washington – is due to hit the country in June 2018.
Both have implications for Labuan, Malaysia’s l…
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