Section 5
“Filing of return of profits of Labuan entity charged to tax
of Labuan Business Activity Tax (Amendment) (No. 2) Act 2024
A Labuan entity carrying on a Labuan business activity to which subsection 2b(1a) or section 4 applies shall for each year of assessment furnish to the Director General a return of profits in the prescribed form within a period of seven months from the date following the close of the accounting period which constitutes the basis period for the year of assessment.
(2)
The prescribed form referred to in subsection (1) shall be furnished to the Director General on an electronic medium or by way of electronic transmission in accordance with section 21c.
(3)
For the purposes of this section, a return of profits for a year of assessment shall—
(a)
specify the chargeable profit for that year of assessment;
and
(b)
contain such particulars as may be required by the
Director General.”.
Amendment of section 6