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 Stamping Date - SPA

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Jasoncat
post Aug 3 2016, 09:14 AM

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QUOTE(Jagalat @ Aug 3 2016, 12:56 AM)
One question boss, what if l manually write the date during the spa (to prevent no delay of stamping to gain rpgt date) and the process to stamping had exceeded 30 days? So need to reSPA? Thanks
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Penalty will be imposed for late stamping, as follows:
(a) RM25.00 or 5% of the deficient duty, whichever is the greater, if stamped within 3 months after the time for stamping;

(b) RM50.00 or 10% of the deficient duty, whichever is the greater, if stamped after 3 months but not later than 6 months after the time for stamping;

© RM100.00 or 20% of the deficient duty, whichever is the greater, if stamped after 6 months from the time for stamping; may be imposed.
Jasoncat
post Aug 3 2016, 11:18 AM

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QUOTE(Jagalat @ Aug 3 2016, 11:00 AM)
Thank you.
Whichever the greater is a powerful word.
Is the deficient duty calculated from spa price? Or it is just some admin/procedural charges...
How to calculate the deficient duty?
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Says you are supposed to pay RM1000 stamp duty but due to delay for 1 month, there will be a 5% penalty charge on the RM1000, but not on the underlying contract value.
Jasoncat
post Aug 3 2016, 12:02 PM

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QUOTE(kochin @ Aug 3 2016, 11:48 AM)
hence the loophole.
many people or biz don't practise stamping.
they can stamp only when there's a need to basis.
and pay the miniscule fine.
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and the banks are the culprits too.

 

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