Bursa Malaysia Berhad (“Bursa Malaysia” or the “Exchange”) lauds the recent statement from the Ministry of Finance, Government of Malaysia (“The Ministry”) with regards to the remittance of the stamp duty on contract notes for the trading of listed shares on Bursa Malaysia. The policy decision as announced was:
1. Stamp duty set at RM1.50 for every RM1,000 or fractional part of RM 1,000 of the value of the contract note of any shares or stock;
2. The stamp duty is to be capped at RM1,000.
The above shall be valid from 1 January 2022 to 31 December 2026.
“On behalf of the industry, the Exchange would like to state our appreciation to the Honourable Minister and the Ministry of Finance for the agility in responding to market operating conditions. This moderated approach to the changes on stamp duty exemplifies the Government’s attentiveness to industry feedback, and in managing the delicate balance between tax collection and nurturing growth in our capital market,” said Datuk Muhamad Umar Swift, Bursa Malaysia Chief Executive Officer.
“As a market regulator, Bursa Malaysia is committed to continuously engage and collaborate with all market participants, towards creating an attractive, vibrant, and sustainable marketplace. The move by MOF maintains our market’s regional competitiveness and attractiveness. The Exchange together with the Ministry of Finance will continuously ensure that our marketplace remains an attractive destination for investors and issuers to invest and raise funds,” said Tan Sri Abdul Wahid Omar, Chairman of Bursa Malaysia.
Participating Organisations have been informed about the matter. Please consult your broker if you have questions on the new stamp duty amendments.
Post time 6-1-2023 09:35 AM
