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Can an offshore company elect to be taxed under the Income Tax Act 1967?

April 26, 2017ACT COMPANY Offshore TAXED

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Can an offshore company elect to be taxed under the Income Tax Act 1967?

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Yes, a Labuan offshore company may now elect to be taxed under the Income Tax Act 1967. Such election however is irrevocable and allows the offshore company to enjoy the benefits of Malaysia’s double taxation treaties with 68 countries.