Engagement Session with IRBM on Stamp Duty: Highlights from the 2nd Taxation & Budget Council Meeting
By marcom@micci.com
Jul 9, 2025
Engagement Session with IRBM on Stamp Duty: Highlights from the 2nd Taxation & Budget Council Meeting
On 5th June 2025, the 2nd Taxation & Budget Council Meetingwas warmly hosted by PricewaterhouseCoopers (PwC), with special thanks to Mr. Raja Kumaran, Co-Chair of the Taxation & Budget Council, for his gracious hospitality. The meeting featured a valuable engagement session with the Inland Revenue Board of Malaysia (IRBM), focusing on issues related to stamp duty.
Mr. Tai Lai Kok, Co-Chair of the Taxation & Budget Council, led the discussion on behalf of MICCI, while the IRBM was represented by Datin Asnidar binti Mohamad, Director of the Policy Review and Technical Integrity Division, together with Puan Azrina binti Kamaredin from the same division, and Mr. Shafudin bin Yacob, Director of the Stamp and RPGT Operations Department.
We were pleased to be joined by the following members of the Council: Mr. Noel Meldan (Coca-Cola), Ms. Amira Ahmad Azhar (RDS Partnership), Ms. Annie Thomas (PwC), Ms. Karen Fairclough-Ng (MCMTC), Mr. Charith Fernando (Transecure Solutions Sdn Bhd), Mr. Chong Mun Yew and Ms. Wong Man Yee (Crowe KL Tax Sdn Bhd), Mr. Adli Kamaruddin (Shopee), Mr. Mior Ramadhan and Ms. Lim Hui Min (Flash Express), and Mr. Clement Stanly a/l Philips (Heineken Malaysia Berhad). The session was organised by 𝗠𝗿. Wayne (MICCI), with support from 𝗠𝗿. Azri Azlan and 𝗠𝗿. Faris Jalaini.
Several key points were raised during the meeting. The Committee emphasised the need to update and clarify the current stamp duty rules, which IRBM welcomed the input. Discussions also explored whether documents such as consignment notes, purchase orders, and bills of lading should be classified as “instruments” under the Stamp Duty Act. Additionally, the Committee sought guidance on how far back documents must be backdated and which types are subject to stamping requirements. To help address these uncertainties, it was proposed that IRBM publish a list of documents subject to stamp duty, along with a dedicated FAQ section on their website. IRBM indicated that a formal statement may be issued soon. MICCI also expressed interest in collaborating with IRBM on a stamp duty awareness programme and looks forward to continuing this constructive engagement.
We truly appreciate the open and constructive dialogue with IRBM and look forward to more meaningful engagements in the future!