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Finance Act 2019 (Circular No 044/2020)

Circular No 044/2020
Dated 21 Feb 2020

To Members of the Malaysian Bar

Finance Act 2019

Please take note of the Finance Act 2019 (“Finance Act”) that has, among others, made amendments to the Real Property Gains Tax Act 1976 and the Stamp Act 1949.

Members should also take note of the following provisions of the Finance Act, which pertains to the commencement of the amendments to the Real Property Gains Tax Act 1976 and the Stamp Act 1949:

(1) Commencement of Amendments to the Real Property Gains Tax Act 1976
     
(a) Sections 23 and 26 of the Finance Act came into operation on 1 Jan 2020; and
     (b) Sections 24 and 25 of the Finance Act are deemed to have come into operation on 12 Oct 2019.

(2) Commencement of Amendments to the Stamp Act 1949
     
Amendments to the Stamp Act 1949 came into operation on 1 Jan 2020.

Please click here to view the Finance Act (see pages 2 to 29).

Should you have any enquiries, please contact the Lembaga Hasil Dalam Negeri at its Hasil Care Line at 03-8911 1000.

Thank you.

Roger Tan
Chairperson
Conveyancing Practice Committee