| Personal taxes |
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Individuals employed by a Labuan Company is liable to personal income tax as prescribed by the ITA 1976. However the following incentives apply;
a) expatriate or non-citizen employed in Labuan in a managerial capacity enjoys 50% abatement on his employment income. Such abatement is available for each year of assessment from 1998 to 2010. b) 50% of the gross income of a non-resident manager working for a Labuan trust company is exempted from tax from the year of assessment 1998 to the year of assessment 2010, c) 50% of the housing and regional allowances for residents working in offshore companies in Labuan will be exempted from tax for the year of assessment 1998 to the year of assessment 2010, and, d) income from fees received by any non-citizen in his capacity as a director of an offshore company for the year of assessment 2002 to the year of assessment 2010 will be exempted from income tax. |
