ORIGINATING from the British colonial era, stamp duty under the current Stamp Act 1949 (Stamp Act), which incorporates elements of the UK stamp duty regime, has traditionally functioned as a background component of Malaysia’s tax system.
However, with the self-assessment regime effective from Jan 1, and increased compliance audits being undertaken by tax authorities, it is timely for businesses to review and reassess their stamp duty positions to ensure readiness moving forward.
