Stamp duty on contract notes for trading in shares to be capped at RM1,000


KUALA LUMPUR: Bursa Malaysia Bhd has lauded the Ministry of Finance’s (MoF) choice with regards to the remittance of stamp duty on contract notes for the trading of listed shares on Bursa Malaysia, which is able to be capped at RM1,000.

The alternate operator mentioned MoF lately introduced that the stamp duty is ready at RM1.50 for each RM1,000 or fractional a part of RM1,000 of the worth of the contract be aware of any shares or inventory and that the stamp duty is to be capped at RM1,000.

The coverage choice shall be legitimate from Jan 1, 2022 to Dec 31, 2026.

Bursa Malaysia chief government officer Datuk Muhamad Umar Swift mentioned the ministry’s agility in responding to market working circumstances may be very a lot appreciated.

“This moderated strategy to the adjustments on stamp duty exemplifies the federal government’s attentiveness to business suggestions, and in managing the fragile stability between tax assortment and nurturing progress in our capital market,” he mentioned.

Meanwhile, chairman Tan Sri Abdul Wahid Omar mentioned as a market regulator, Bursa Malaysia is dedicated to repeatedly interact and collaborate with all market members, in direction of creating a horny, vibrant, and sustainable market.

“The transfer by MoF maintains our market’s regional competitiveness and attractiveness. The alternate along with the MoF will repeatedly be certain that our market stays a horny vacation spot for buyers and issuers to make investments and lift funds,” he mentioned.

Bursa Malaysia added that taking part organisations have been knowledgeable in regards to the matter and buyers are suggested to seek the advice of their brokers if they’ve questions on the brand new stamp duty amendments. – Bernama

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