PETALING JAYA (Dec 20): The government will not raise the stamp duty rate from 3% to 4% on the instruments of transfer (Form 14A) for properties worth over RM1 million from Jan 1, 2018, as announced in Budget 2017, according to the Ministry of Finance (MoF).
The stamp duty rate on the transfer of property (Form 14A) which is worth more than RM1 million is maintained, the ministry said in a press release today.
The rates, based on the selling price or market value of property (whichever is higher), are as follows:
First RM100,000 — 1%
RM100,001-RM500,000 — 2%
RM500,001 onwards — 3%
The proposal to increase the stamp duty from Jan 1, 2018 was first announced by Prime Minister Datuk Seri Najib Tun Razak in the tabling of the Budget 2017 in October 2016.
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