Effective on 17 April 2020, the Labuan Financial Services Authority (LFSA) issued revised guidelines on Labuan International Commodity Trading Company (LITC) under the Global Incentives for Trading (GIFT) program. The GIFT program covers products such as petroleum and related products, minerals, agriculture products, refined raw materials, chemicals, and coal.
To qualify as an LITC, a company is required to have some or all of the following functions in Malaysia, including strategic manageme…