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The Implementation of Foreign Account Tax Compliant Act (FATCA) in Malaysia
For your information, MOF has informed that Malaysia will be signing the Intergovernmental Agreement (IGA) with US Department of the Treasury (US Treasury). Meanwhile, the US treasury has written to Ministry of Finance and issued an official statement as follows:-
      
On 25th April 2017, the Department of the Treasury, United States has officially informed the Ministry of Finance Malaysia, that at the moment, Malaysia remains on the Treasury Intergovernmental Agreement (IGA) list and continues to be treated as if it has an IGA in effect on its continuous effort to bring the IGA into force. 

Both countries remain committed to finalize the IGA between Malaysia and the United States for the implementation of FATCA in Malaysia.

More details on implementation of FATCA in Malaysia including Labuan can be obtained at Inland Revenue Board of Malaysia website here.

 

Labuan Financial Services Authority
19 May 2017

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