Stamp Act 1949 (Act 378) & Selected Rules [As At 20th April 2025]

Name: Stamp Act 1949 (Act 378) & Selected Rules [As At 20th April 2025]
Brand: Law Books Malaysia | Joshua Legal Art Gallery
SKU: 3792261949
Price: 19.0 MYR
Availability: InStock

Select a Variant

ILBS

MDC Publishers Sdn Bhd

Variants

RM19.00 ~~RM19.50 you save RM0.50~~

Stamp Act 1949 (Act 378)

Selected Rules

[As At 20th April 2025]

An Act relating to stamp duties.

Detailed Contents of Stamp Act 1949 (Act 378):

Malaysian law governs the usage of stamps and stamp charges under the Stamp Act 1949 (Act 378). The Stamp Act 1949 (Act 378) & Selected Regulations [As At 20th April 2025] is the most current revision to the 1949 original, which has undergone a number of changes since then. The act's main clauses and its chosen rules will be covered in this article.

Stamp Duty
Stamp duty, a levy imposed on the documents, is a requirement under the Stamp Act for several documents. The type of paper and transaction's value will determine how much stamp duty is due. For instance, the stamp duty on a property sale agreement would be more than on a property leasing agreement.

Stamping of Documents
In accordance with the Stamp Act, some papers must also be stamped before being used or acted upon. A stamp is applied to a document as proof that a stamp duty has been paid by the process of "stamping" a document. A document needs to be stamped in order to be accepted as evidence in court.

Adjudication of Instruments
The Stamp Act also allows for the adjudication of some instruments in addition to stamping. The Collector of Stamps examines an instrument during adjudication to ascertain the amount of stamp duty due. This is done to make sure the document is paid for with the exact amount of stamp duty.

Penalties for Non-Compliance
For violations of its rules, the Stamp Act imposes fines. A penalty of up to three times the amount of the duty payable may be assessed for failure to pay the requisite stamp duty or to stamp a document. Moreover, documents that have been incorrectly stamped or judged might not be allowed to be used as evidence in court.

Selected Rules
A selection of rules that are added to the Stamp Act to provide more clarification on its provisions. The following are some of the most important guidelines:

Rule 3 - The instruments that are liable to stamp duty are listed in this rule. They consist of contracts, sureties, deeds, leases, and mortgages.

Rule 4 - This rule outlines the rates of stamp duty that are applicable to different kinds of instruments.

Rule 6 - According to this rule, some documents must be stamped 30 days after they are executed or received in Malaysia, whichever comes first.

Rule 10 - According to this regulation, the Stamp Collector will decide on the validity of documents.

Rule 11 - This regulation outlines the processes for contesting the Collector of Stamps' judgement.

Conclusion
An important law in Malaysia that governs the usage of stamps and stamp taxes is the Stamp Act 1949 (Act 378) & Selected Regulations [As At 20th April 2025]. Its requirements are intended to guarantee that the appropriate amount of stamp duty is paid on particular documents and that they are duly stamped or decided. Penalties may apply for failure to adhere to the act's requirements, and papers that are not properly stamped or judged may not be allowed to be used as evidence in court.

Stamp Act 1949 (Act 378) Contains:

Stamp Act 1949 (Act 378)
Stamp Duty (Adhesive Stamp) Rules 2015

------------------------------------------------------------------

MDC Publishers Version Sdn Bhd:

STAMP ACT 1949 (ACT 378)

As at 1st January 2025

An Act relating to the imposition of stamp duties on certain instruments, providing for the assessment, collection, and enforcement of such duties, and for matters connected therewith and incidental thereto.

Printed: April 2025

Publisher: MDC Publishers

Detailed Contents of Stamp Act 1949 (Act 378):

The Stamp Act 1949 (Act 378), originally enacted as F.M. Ordinance No. 59 of 1949, is a principal Malaysian legislation governing the imposition and administration of stamp duties on legal, commercial, and financial instruments. The Act was revised in 1989 and came into effect on 2nd January 1990. The latest amendment incorporated is Act 831.

This Act applies throughout Peninsular Malaysia and has provisions for adjudication, exemptions, offences, and penalties in relation to unstamped or improperly stamped instruments. It also introduces procedures for electronic stamping and administrative functions of the Collector of Stamp Duties.

Part I: Preliminary
Defines key terms and establishes the authority and roles of the Collector and Deputy Collectors of Stamp Duties.

Part II: Provisions Applicable to Instruments Generally
Outlines the scope of instruments liable to stamp duty, methods of payment, and related requirements including valuation, denoting duty, and mode of writing and stamping instruments.

Part III: Provisions Applicable to Particular Instruments
Provides direction on the calculation of duties for specific transactions such as reconstructions of companies, leases, annuities, voluntary conveyances, and security instruments, including syariah-compliant financing.

Part IV: Liability for Payment of Duty
Specifies who is liable to pay the duty and includes provisions for exemptions.

Part V: Adjudication as to Stamps
Details procedures for adjudication, assessment of duty, appeal processes, and the issuance of certificates by the Collector.

Part VI: Time of Stamping Instruments
Covers timeframes for stamping instruments executed within or outside Malaysia and the consequences of late stamping.

Part VII: Instruments Not Duly Stamped
Explains the examination of instruments, admissibility as evidence, and the process for impounding and recovering penalties.

Part VIII: Allowance for Spoiled Stamps
Provides for refund or replacement of stamps that are spoiled, misused, or otherwise not properly applied.

Part IX: Offences and Penalties
Enumerates penalties for non-compliance, fraud, and procedural failures, with several sections repealed or amended by Act 851/2023.

Part X: Miscellaneous
Includes provisions related to inspection, electronic systems for stamping, identification numbers, power of exemption, rule-making authority, and repeals.

Schedules