Stamp Duty for Transfer

Stamp Duty for Transfer of Securities

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The Stamp Duty Office has introduced new procedures for transfer of securities for private limited companies 2 months ago.
A payment of RM 10 must be made and the form will be evaluated. This required 10 days.
If the company is not newly incorporated, the latest management accounts are required.
This causes a lot of inconvenience for business as most companies are unable to submit their management accounts.
Stamp Office should follow requirements of provisions of companies Act 1965

Reply

The RM10 payment is imposed on all share transfer under the Seksyen 36 Akta Setem 1949.
The new ruling for processing transfer of shares will be announced and the time frames are as follows:-
- For a newly registered company or dormant – 3 working days
- Other than stated – 7 working days
LHDNM is currently looking into the need to present management accounts to make it easier for the public to work with the LHDN.