Phase 2 Peer Review Report Summary: Malaysia


The Phase 2 review rates Malaysia as overall largely compliant with the international standard. Ownership and accounting information has been available and could be accessed in the great majority of cases. However, the report notes that compliance with ownership and accounting record keeping obligations was not sufficiently monitored in the Labuan International Business and Financial Centre. Malaysia’s domestic policies restricted access to bank information, but was reviewed in order to ensure that it is able to exchange information to the standard in respect of all of its EOI agreements. Finally, more recently, Malaysia has put in place organisational processes and resources to ensure that exchange of information requests are responded in an adequate and timely manner. Malaysia should report steps taken to address the recommendations made in the Phase 2 report within one year. For further information on Malaysia's exchange of information practices and to read the full report click here


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