REVISION OF STAMP DUTY ON CONTRACT NOTE
Dear Valued Clients,
Bursa Malaysia, via its circular dated 30 December 2021, has announced a revision in the stamp duty relating to the sale of any shares, stock or marketable securities in companies incorporated in Malaysia or elsewhere effective 01 January 2022 as follows :
- For “shares or stock” - the stamp duty is 0.15% for every RM1,000 or fractional part of RM1,000 of the value of any shares or stock (payable by both buyer and seller). The minimum stamp duty is RM1.50 with increment of RM1.50 to a maximum of RM1,000.
- For “marketable securities” - the stamp duty is 0.10% for every RM1,000 or fractional part of RM1,000 of the value of any marketable securities (payable by both buyer and seller). The minimum is RM1.00 with increment of RM1.00 to a maximum of RM200.
Due to the late announcement and system limitation, effective 01 Jan 2022 until further notice, the stamp duty charged across all clients’ contracts, for both “shares or stock” and “marketable securities”, will be at the rate of 0.15% subject to a maximum of RM1,000 per contract. The “excess” stamp duty charged on contract notes for “marketable securities” will be refunded to all affected clients via a one-off payment once our system enhancement to cater for the different stamp duty rates is completed.
If you need further clarifications, please contact our friendly eBroking Helpdesk Team via email [email protected] or at 03-2031 0102.