PERATURAN-PERATURAN CUKAI AKTIVITI PERNIAGAAN LABUAN (PERTUKARAN AUTOMATIK MAKLUMAT AKAUN KEWANGAN) (PINDAAN) 2020

Aktiviti Perniagaan Labuan (Pertukaran Automatik Maklumat Akaun Kewangan)

(Pindaan) 2020.

Maklumat Akaun Kewangan) 2018 [P.U. (A) 20/2018] dipinda dengan menggantikan

Jadual Pertama dengan jadual yang berikut:

“JADUAL PERTAMA

[Perenggan 5(3)(b)]

Akaun Dikecualikan

Bagi maksud Standard, Akaun Dikecualikan adalah suatu akaun depositori yang dorman

(selain Kontrak Anuiti)—

(a)

dengan baki tidak melebihi USD1,000.00;

(b)

jika pemegang akaun tidak pernah memulakan transaksi berkenaan dengan akaun itu atau apa-apa akaun lain yang dipegang oleh pemegang akaun itu dengan Institusi Kewangan Pelapor dalam tempoh tiga tahun terdahulu;

P.U. (A) 266 3

(c)

jika pemegang akaun tidak berhubung dengan Institusi Kewangan Pelapor tentang akaun itu atau apa-apa akaun lain yang dipegang oleh pemegang akaun itu dengan Institusi Kewangan Pelapor dalam tempoh enam tahun terdahulu; dan

(d)

berhubung dengan Kontrak Insurans Nilai Tunai, jika Institusi Kewangan Pelapor tidak berhubung dengan pemegang akaun tentang akaun itu atau apa-apa akaun lain yang dipegang oleh pemegang akaun itu dengan Institusi Kewangan Pelapor dalam tempoh enam tahun terdahulu.”.

Dibuat 28 Ogos 2020

[Perb.MOF.TAX(S)700-12/5/5; PN(PU2)491/IV]

DATO’ SRI TENGKU ZAFRUL BIN TENGKU ABDUL AZIZ

Menteri Kewangan

P.U. (A) 266 4

LABUAN BUSINESS ACTIVITY TAX ACT 1990

LABUAN BUSINESS ACTIVITY TAX (AUTOMATIC EXCHANGE OF FINANCIAL

ACCOUNT INFORMATION) (AMENDMENT) REGULATIONS 2020

IN exercise of the powers conferred by paragraph 21(1)(b)

of the

Labuan Business Activity Tax Act 1990 [Act 445], the Minister makes the following regulations:

Citation 1.

These regulations may be cited as the Labuan Business Activity Tax

(Automatic

Exchange of

Financial

Account

Information)

(Amendment)

Regulations 2020.

Amendment of First Schedule 2.

The Labuan Business Activity Tax (Automatic Exchange of Financial Account

Information) Regulations 2018 [P.U. (A) 20/2018] is amended by substituting for

First Schedule the following schedule:

“FIRST SCHEDULE

[Paragraph 5(3)(b)]

Excluded Account

For the purposes of the Standard, an Excluded Account is a depository account which is dormant (other than an Annuity Contract)—

(a)

with a balance that does not exceed USD1,000.00;

(b)

where the account holder has not initiated a transaction with regard to the account or any other account held by the account holder with the

Reporting Financial Institution in the previous three years;

P.U. (A) 266 5

(c)

where the account holder has not communicated with the Reporting Financial

Institution regarding the account or any other account held by the account holder with the Reporting Financial Institution in the previous six years; and

(d)

in relation to a Cash Value Insurance Contract, where the Reporting Financial

Institution has not communicated with the account holder regarding the account or any other account held by the account holder with the Reporting Financial

Institution in the previous six years.”.

Made 28 August 2020

[Perb.MOF.TAX(S)700-12/5/5; PN(PU2)491/IV]

DATO’ SRI TENGKU ZAFRUL BIN TENGKU ABDUL AZIZ

Minister of Finance