1 October 2020
The Prime Minister announced that starting from 1 July 2020 until 30 June 2021, eligible SMEs will be exempted from paying stamp duty on instruments for Mergers & Acquisitions (“M&A instruments”), including Contracts or Agreements for sale or lease of properties (including land, building, machinery and equipment); Instrument of Transfer and Memorandum of Understanding; Loans or Financing Agreement; and First Tenancy Agreement.
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Be 100% Malaysian owned; and
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have annual sales turnover of less than RM50 million or full-time employees of less than 200, as per the definition of SMEs in the manufacturing sector; or
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have annual sales turnover of less than RM20 million or full-time employees of less than 75, as per the definition of SMEs in the services sector.
For further information, please contact:
Christina S.C. Kow, Partner, Shearn Delamore & Co
christina@shearndelamore.com
