6-month extension for stamp duty disclosure programme

PUTRAJAYA: A six-month extension until Dec 31 has been declared by the Inland Revenue Board (LHDN) for voluntary disclosure of stamp duty declarations.

LHDN said the extension of the voluntary disclosure programme is intended to encourage compliance while providing additional time for duty payers to adapt to the implementation of the stamp duty self-assessment system.

It is also expected to reduce non-compliance under the Stamp Act and further strengthen overall compliance levels, LHDN said.

Duty payers are advised to ensure that stamping and payment of stamp duty are completed within the extended stamp duty period. All instruments executed between Jan 1, 2023 and Dec 31, 2025 are eligible for exemption from penalties, the statement said.

Stamping applications and stamp duty payments must be completed between Jan 1 and Dec 31 this year. No separate appeal for penalty remission is required, as penalties will be automatically waived once the stamp duty payment is made.

Instruments executed between Jan 1, 2023 and Dec 31, 2025 and declared under the self-assessment scheme will not be subject to audit.

“However, participation in the programme does not exempt duty payers from audits involving other instruments that are not declared under the programme,” the statement added.