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Assess hidden risks before 2026 stamp duty reform
Published on: Tue, Jun 10, 2025 Text Size: KOTA KINABALU: Businesses are urged to assess their stamp duty exposure ahead of the self-assessment regime set to begin in January 2026. While recent exemptions on employment contracts offer some clarity, experts warn that many other agreements such as intercompany, vendor, leasing, and tenancy contracts may still attract stamp duty, including ad valorem charges.
Advertisement The Inland Revenue Board (LHDN) is already auditing businesses on compliance, and many are unaware that even unsigned or digital agreements could fall under the Stamp Act 1949. With the law's outdated definitions and lack of clarity, risk assessments are essential to avoid penalties. Stakeholders are calling for clearer guidelines and long-overdue legislative reform to reflect modern business practices. Companies, especially large and mid-sized, are advised to form cross-functional teams to review their agreements and prepare before the new system takes effect. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available.
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