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EC Trust (Labuan) Bhd (LT0024)
U0195 Jalan Merdeka,
Federal Territory of Labuan, Malaysia 87007.
Phone : +6 087 453 858
Fax : +6 087 453 616
Date : 14 April 2010
http://www.ectrustco.com

OECD WHITE LISTS MALAYSIA AFTER LABUAN LAWS ARE AMENDED

On 18 February, 2010, Malaysia was "white listed" by the Organisation for Economic Cooperation and Development (OECD). The reclassification of Malaysia (including Labuan) as white listed, means Malaysia is a category 1 jurisdiction which has "substantially implemented the internationally agreed tax standard".

Malaysia's recent Protocols to more than 12 of its 70 Double Tax Agreements, together with the enactment of new legislation on 11 February, 2010, updates, revises and strengthens Labuans capabilities as an International Financial Centre, at the same time as enabling it to comply with OECD disclosure requirements.

This paper reviews some of the major features of the new legislation, which provides for foundations, companies limited by guarantee, protected cell companies, limited liability partnerships, no par value shares of companies, abolition of the rule against perpetuities for trusts, as well as information sharing provisions in accordance with the internationally agreed tax standard.

Read full paper here -
http://www.ectrustco.com/whitepapers/labuannewlaws

Peter Searle,
Managing Director of EC Trust ( Labuan) Bhd.
14 April, 2010
http://www.ectrustco.com