IRB OFFERS STAMP DUTY PENALTY WAIVER FOR DOCUMENTS EXECUTED FROM 2023-2025

PUTRAJAYA, Jan 28 (Bernama) -- All documents (instruments) signed or executed from Jan 1, 2023, to Dec 31, 2025, are eligible for penalty waiver under the Special Voluntary Disclosure Programme (PKPS) for Stamp Duty 2026, according to the Inland Revenue Board.

It said that stamping and payment of stamp duty must be made during the implementation period of the Stamp Duty PKPS 2026, which is from Jan 1 last year to June 30 this year.

"During the Stamp Duty PKPS 2026 period, all instruments executed from Jan 1, 2023 to Dec 31, 2025 are eligible for penalty exemption based on the powers provided to the Stamp Duty Collector under subsection 47A(2) of the Stamp Act 1949,” it said in a statement today.

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It added that all documents settled within this period and stamped under the programme will not be audited.

The IRB also said that the penalty amount will still be displayed on the Stamp Duty Statement Form (BNDS) or Assessment Notice issued, but it will be automatically removed during the payment process without requiring any further action from the payer.

The IRB, however, stressed that the Stamp Duty PKPS 2026 will not apply to cases involving fraud.

In line with the programme's implementation, taxpayers are advised to submit their stamping applications and payments earlier to ensure that the notice of assessment can be issued and the stamp duty payment completed within the stipulated period.

"It is hoped that this initiative will comprehensively support the country's fiscal sustainability and the people's welfare,” it said while advising the public to take advantage of the Stamp Duty PKPS 2026.

For reference, the guidelines and frequently asked questions regarding the Stamp Duty PKPS 2026 can be accessed and downloaded via the IRB portal at www.hasil.gov.my.

-- BERNAMA