Labuan Financial Services Authority (Labuan FSA) has imposed business restriction on the following Labuan Licensed Entities pursuant to section 193 of the Labuan Financial Services and Securities Act 2010 for non-compliance to minimum capital and/or other regulatory requirements.

In order to address the issue of base erosion and profit shifting, the Organization of Economic Cooperation and Development (OECD) and the G20 countries introduced Base Erosion and Profit Shifting (BEPS) Action Plan as international taxation standard. The plan consists of 15 actions to address BEPS issues.

Labuan IBFC maintained its role to intermediate regional business and investment, driven by Asia’s continued economic growth