Malaysia published the Labuan Business Activity Tax (Amendment) Act 2020 in the Official Gazette on 10 February 2020. The Act includes several amendments to that Labuan Business Activity Tax Act 1990, including: The introduction of the provision that a Labuan entity carrying on a Labuan business activity is to be charged at the rate of 24% upon its chargeable profits if it fails to comply with substantial activity requirements for a year of assessment; The introduction of new residence provisions for the purpose of double taxation agreements, including that: a Labuan entity carrying on a business or businesses is resident...