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01
Stamp Duty
In Malaysia, Stamp duty is a tax levied on a variety of written instruments specifies in the First Schedule of Stamp Duty Act 1949. In general terms, stamp duty will be imposed on legal, commercial, and financial instruments.
▪Easy to retrieve anywhere and anytime
▪Save time in processing instruments/documents
▪Systematic and expedite processing
▪Data safety guaranteed
▪Reduce cost
▪Status verification at any time
02
Tenancy Agreement
The main reason of stamping your tenancy agreement is to provide protection to the parties who signed the contract/agreement, as the document is now admissible for the court in case of any dispute.
(Annual Rental - RM2400) divided by RM250 and then multiplied by RM 1, RM 2, or RM 4 according to the duration of your agreement. 1 year or less = RM1, 1-3 years = RM2 and 3 years and more = RM4.
RM10 is the charge for stamping a duplicate copy of the agreement.
An instrument may be stamped within 30 days of its execution if executed within Malaysia or within 30 days after it has been first received in Malaysia, if it has been executed outside Malaysia.
If it is not stamped within the period stipulated, a penalty of:
(a) RM25.00 or 5% of the deficient duty, whichever is the greater, if stamped within 3 months after the time for stamping;
(b) RM50.00 or 10% of the deficient duty, whichever is the greater, if stamped after 3 months but not later than 6 months after the time for stamping;
(c) RM100.00 or 20% of the deficient duty, whichever is greater, if stamped after 6 months from the time for stamping; may be imposed.
(the above rates are effective from 1/1/2003)