KCCI urges review of outdated Stamp Act 1949
Published on: Monday, May 26, 2025
Published on: Mon, May 26, 2025 Text Size: KOTA KINABALU: The Kadazandusun Chamber of Commerce and Industry (KCCI) has called on the Federal Government to conduct a full review of the Stamp Act 1949, describing it as outdated and burdensome, especially for small businesses and rural communities in Sabah. KCCI Supreme Council Member Dennison R. Indang said the Act, which predates Malaysia's independence, continues to impose rigid penalties and complex compliance requirements that disproportionately affect microenterprises and low-income groups. 'In Sabah, many transactions are informal in nature such as family rental agreements or small-scale community loans and these are now vulnerable to harsh enforcement,' he said in a statement today. Dennison proposed several reforms, including stamp duty exemptions or reductions for transactions under RM10,000, an amnesty mechanism for first-time unintentional non-compliance, decentralisation of stamp duty powers to Sabah and Sarawak, bilingual digital platforms for easier access, and the formation of a Parliamentary Select Committee to reassess the Act. 'Our tax laws must empower, not punish, those trying to comply. We are no longer living in 1949, our laws must reflect a modern and inclusive Malaysia,' he added. * 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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