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Economic Substance Services

General Overview

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For more information related to Economic Substance Requirements, please refer to Tax Framework in Labuan IBFC - New Development at https://bit.ly/3TQcWrS

01

Payroll Administration

  • Preparation and calculation of THE CLIENT’s employees’ salaries on monthly basis

 

  • Preparation of THE CLIENT’s employee’s monthly salary slip or statement

 

  • Drafting and preparation of Contract of Employment, Letter of Confirmation, and other required documents in regard to the employment of the employees

 

  • Assisting THE CLIENT to register as an employer with Employee Provident Fund (EPF), Social Security Organisation (SOCSO), and Employment Insurance System (EIS)

 

  • Preparation of forms and registration of THE CLIENTs employees with EPF, SOCSO and IRB wherever applicable

 

  • Preparation and arrangement of monthly salary payment to THE CLIENT’s employees before the last day of each month

 

  • Preparation and arrangement of monthly payment to EPF and SOCSO for the employer and employees contributions in accordance with the Malaysia Law

 

  • Preparation and arrangement of monthly payment to IRB for employees’ tax deductions (if any) in accordance with the Malaysia Law

 

  • Assisting THE CLIENT to submit the Employer’s Declaration to IRB under Malaysia Law

 

  • Assisting THE CLIENT with the preparation of the employees yearly EA Form which will be used for yearly tax declaration under Malaysia Law

 

Any other matters related to payroll services as agreed

02

Office in Labuan

  • Dedicated Room (choice of one, two, three and four workstations)

 

  • Co-shared Workstation

 

  • Business Address

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  • Dedicated Telephone Number

03

Serviced Residence

  • Type of Subscription: Daily | Weekly | Quarterly | Half Yearly | Annually

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  • Type of Residence: Room | Whole House | Landed House | Apartment

04

Other Ancillary Services

  • Trade support (various support services covering registration, documentation, and administration)

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  • Opening of Corporate Bank Accounts

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  • Opening of Personal Bank Account

The information contained in this document is provided for information purposes only. It does not constitute legal advice and should not be relied upon as such. The readers may need to obtain professional advice on legal or tax issues affecting you before relying on it. However, Signature Trust Ltd tries to ensure that the content of this document is accurate, adequate, or complete, it does not represent or warrant, express or implied, its accuracy, correctness, completeness or use of any of the information. Signature Trust Ltd expressly disclaims any liability to any person for loss or damage incurred as a result of reliance placed upon the information contained in this document.

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