Stamp Duty

Stamp Duty (General)
Relief From Stamp Duty
Stamp Duty (General)

INTRODUCTION

Stamp duty is applied to instruments and not to transactions. An instrument is defined as any written document and, in general, stamp duty is levied on legal, commercial and financial instruments. The person responsible for the payment of stamp duty is determined in the Third Schedule of the Stamp Act 1949. The assessment and collection of stamp duty is provided for in an existing law known as the Stamp Act of 1949.

TYPES OF DUTY

1. Ad Valorem Duty

The obligation ratio varies according to the nature of the deed and the level of consideration set forth in the deed or the market value of the property. The imposition of an ad valorem (i.e. value-based) tax includes:

  • Instruments to transfer (make sale or gift) of assets, including marketable securities (i.e. loan shares and shares of public companies listed on Bursa Malaysia Berhad), shares of other company and non-tangible assets (e.g., book liabilities, legitimate interests, and goodwill).
  • Instruments that create an interest in the property (e.g. leases and statutory leases)
  • Funds guarantee instruments, including instruments that create contracts to settle funds or fund payment obligations (commonly referred to as “bonds”)
  • Certain capital market instruments (e.g. contractual obligations)

2. Fixed Duty

Tax is applied without any regard to the consideration paid or the amount stated in the instrument. The imposition of fixed duties involves:

  • Certain other legal, business, commercial, or capital markets instrument (e.g., power of attorney or power of attorney, articles of association, promissory note, insurance policy, etc.); and
  • A copy or a subsidiary or mortgage instrument when it can be demonstrated that the original or the principal or principal instrument has been duly authenticated.

INSTRUMENTS LIABLE TO STAMP DUTY

Instruments liable to stamp duty are those listed in the First Schedule of the Stamp Act 1949.

Relief From Stamp Duty

  1. Pengecualian
    • Pengecualian Am dan Khusus
      • Surat cara yang layak diberikan pengecualian di bawah Seksyen 35 Akta Setem 1949, disenaraikan di bawah Jadual Pertama Akta yang sama di bawah tajuk “Pengecualian Am”.
      • Pengecualian khusus pula diberikan kepada surat cara yang tersenarai di bawah tajuk “Pengecualian” di bawah butiran 2, 4, 23, 24, 32, 49 dan 58 Jadual Pertama Akta Setem 1949.

 

    • Lain-lain Pengecualian

      Lain-lain pengecualian adalah di bawah seksyen 80 Akta Setem 1949 yang diberikan oleh Menteri Kewangan. Pembayar duti perlu menyatakan rujukan warta atau mengemukakan/melampirkan surat pengecualian/peremitan yang dikeluarkan oleh Kementerian Kewangan semasa membuat permohonan penyeteman atau adjudikasi.

 

  • Peremitan

    Peremitan merupakan sebahagian daripada pengecualian di mana amaun duti sebenar dikurangkan kepada suatu kadar yang diluluskan oleh Menteri Kewangan di bawah seksyen 80, Akta Setem 1949.

2. Relif

Lembaga Hasil Dalam Negeri Malaysia (LHDNM) ingin memaklumkan bahawa permohonan pelepasan duti setem di bawah Seksyen 15 / Seksyen 15A Akta Setem 1949 adalah terpakai bagi kes-kes berikut:

  1. Penstrukturan semula syarikat;
  2. Penggabungan syarikat; atau
  3. Pindah milik harta tanah di antara syarikat bersekutu.

Permohonan pelepasan duti setem di bawah Seksyen 15 dan 15A ini hendaklah dikemukakan kepada Pejabat Pengarah Negeri yang berhampiran untuk dipertimbangkan.