When must a Labuan offshore company file its tax return?
LOBATA provides that an offshore company must file its return of profit within a period of three months from the commencement of a year of assessment. Year of assessment means calendar year. Therefore the deadline to file is 31st May every year. However from 31st of March 2006, the Inland Revenue had agreed to grant all Labuan offshore companies a standard extension to file tax returns up to 31st May every year.
