TOP applauds the Malaysian Ministry of Finance’s statement regarding the remittance of the stamp duty on contract notes for the trading of listed shares on the Malaysian stock exchange.
The policy decision as announced was:
1. Stamp duty set at RM1.50 (€0.31) for every RM1000 (€209.98) or a fractional part of RM 1,000 of the value of the contract note of any shares or stock;
2. The stamp duty is to be capped at RM1,000 (€209.98).
The above shall be valid from 1 January 2022 to 31 December 2026.
TOP states our appreciation to the Honourable Malaysian Finance Minister Tengku Zafrul Aziz and the Ministry of Finance in their quick response to market operating conditions.
The mitigated approach to the stamp duty changes illustrates that the Malaysian government is heedful of feedback from the industry, and manages to balance growth with tax collection.
As a service provider for tax and compliance needs, TOP is dedicated to engaging with all participants in the market to help create an appealing, vibrant and viable marketplace.
The decision by the Ministry of Finance continues Malaysia’s competitiveness and appeal in the region.
TOP will continue to ensure that Malaysia remains an attractive destination for investors.
Please consult us if you have any questions on the new stamp duty amendments or any other tax or compliance issues. Contact advice@topberaten.my or call +603-2732 6084 for more information.
