The Inland Revenue Board of Malaysia (IRBM) has issued a new technical guideline dated 20 October 2022 on the tax treatment of Labuan entities with dormant status. The objective of the guideline is to provide clarification on the tax treatment of Labuan entities with dormant status under the Labuan Business Activity Tax Act 1990 (Act 445) as prescribed by the Labuan Investment Committee. The main guidance includes the following: A Labuan entity is considered dormant if it: has never commenced operations since the date of its incorporation; has previously been in operation or carried on business but has now ceased...