any summary..?
Stamp duty crackdown
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 May 28 2025, 01:05 PM
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Junior Member
847 posts Joined: Nov 2010  
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Quote|
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May 28 2025, 01:10 PM
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#22
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Junior Member
98 posts Joined: Mar 2018 From: Land of the Hornbills, Land of the Free
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QUOTE(Xploit Machine @ May 28 2025, 11:44 AM) 15 years in business .. never did any so called "contracts", in my business is Quotation, Invoice, Purchase Orders and Money In-Out .. I dont care about government and their stupid rules You outsource all your workers, not a single employment under contract? Admin also don't have?  |
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May 28 2025, 01:13 PM
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#23
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Junior Member
997 posts Joined: Mar 2019
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People digitalize to make things easier.
This bmx digitalize to make life harder and do rat hunt on u if u step on his tail |
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May 28 2025, 01:16 PM
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Senior Member
2,510 posts Joined: Jan 2003
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QUOTE(Rusty Nail @ May 28 2025, 12:29 PM) i've submitted documents for stamp duty before, they just need cover, page, parties, price/value, date of agreement and signatories. don't need the entire contract. What's to prevent people from using the submitted covering page and the signed page but change the clauses in between when it comes to disputes? |
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May 28 2025, 01:25 PM
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Senior Member
4,883 posts Joined: Jan 2003 From: Petaling Jaya 
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QUOTE(ray123 @ May 28 2025, 01:16 PM) What's to prevent people from using the submitted covering page and the signed page but change the clauses in between when it comes to disputes? I dunno lol They have a file size limitations, my contracts are never full copies when getting stamped. Maybe they at why there's always a copy of the contract for each party of the agreement. |
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May 28 2025, 01:26 PM
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#26
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Junior Member
321 posts Joined: May 2020
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QUOTE(kamfoo @ May 28 2025, 01:05 PM) any summary..? basically andrew ewe , a fellow of CITM say that last time lhdn are okay with unpaid stamp duty contract , now lhdn on the wild hunt / wolf prowl mental by auditing to catch anyone who did not pay their stamp duty , this raise a big question why after few decade then lhdn suddenly go beast mode ? this create not fair to the market and so on. |
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May 28 2025, 05:44 PM
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#27
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Senior Member
7,256 posts Joined: Nov 2008 From: SINGAPORE💃
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QUOTE(Chowda @ May 28 2025, 01:10 PM) You outsource all your workers, not a single employment under contract? Admin also don't have? all my workers are foreigners except 2 only Malaysian in the office .. I dont put any contracts, all direct appointed  |
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May 28 2025, 05:51 PM
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#28
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Junior Member
863 posts Joined: Apr 2019
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QUOTE(Avangelice @ May 28 2025, 11:24 AM) Obv you guys aren't business owners. Got 100 employees. Extra 10k expense for 100 person company is killing your business. Means your business was on the edge of bankruptcy with such thin margin all this while.All these while contracts are signed hardcopies that are kept in secured filing cabinets. Suddenly with this stupid ruling, you as a business owner need to start scanning 50 to 100 copies of contracts, some contracts are 4 pages to 5 pages thick. U ever try scanning documents and digitalizing it? It's not easy then upload them into lhdn one by one and have to pay penalty. 100x100 myr it's already 10k. Haven't calculated the money spend on stupid e invoice system? That's what happened to my friend's auntie who owns her own hotel. Yeah this shit is killing smes. |
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May 28 2025, 05:54 PM
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#29
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Junior Member
863 posts Joined: Apr 2019
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QUOTE(Srbn @ May 28 2025, 11:35 AM) If one companies got 1000 employees. Need to upload employment letter 1000 times? 1000 employee company is not a mom and pop operation anymore. They should have a process to handle this. |
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May 28 2025, 06:21 PM
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Senior Member
1,887 posts Joined: Mar 2013
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QUOTE(diffyhelman2 @ May 28 2025, 05:51 PM) Got 100 employees. Extra 10k expense for 100 person company is killing your business. Means your business was on the edge of bankruptcy with such thin margin all this while. RM10k is less 1 family holiday. Maybe this is the flaw in "let some people get rich first"? |
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May 28 2025, 06:22 PM
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#31
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Junior Member
863 posts Joined: Apr 2019
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QUOTE(JohnL77 @ May 28 2025, 06:21 PM) RM10k is less 1 family holiday. Maybe this is the flaw in "let some people get rich first"? Rich people get Optimus caregiver first. Than Dage will come make it cheap for everyone. |
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May 28 2025, 06:26 PM
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Senior Member
1,887 posts Joined: Mar 2013
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QUOTE(diffyhelman2 @ May 28 2025, 06:22 PM) Rich people get Optimus caregiver first. Than Dage will come make it cheap for everyone. Aiya. Should have used "not competitive" argument. |
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May 28 2025, 06:31 PM
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#33
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Senior Member
2,033 posts Joined: Jul 2005
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Soon all invoices also need stamping
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May 28 2025, 06:32 PM
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Senior Member
4,883 posts Joined: Jan 2003 From: Petaling Jaya
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QUOTE(Singh_Kalan @ May 28 2025, 06:31 PM) Soon all invoices also need stamping stop giving madanon ideas |
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May 28 2025, 06:45 PM
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#35
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Junior Member
342 posts Joined: Jan 2013
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Funny thing is for loan contracts, if the loan is in MYR, the stamp duty payable is at 1% of loan value, but if it is in foreign currency, it's at RM1000 flat rate (could be RM2K, not sure which one ady). If loan is RM20mil, borrower is facing stamp duty of RM200K.
So what business do is to request the bank for a foreign currency loan but also do a currency swap agreement at the same time to swap the foreign currency to MYR, thereby saving huge amount of stamp duty. Never ever do a pure RM loan. This post has been edited by ZeaXG: May 28 2025, 06:46 PM |
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May 28 2025, 06:53 PM
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Senior Member
1,256 posts Joined: Dec 2013
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QUOTE(Singh_Kalan @ May 28 2025, 06:31 PM) Soon all invoices also need stamping |
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May 28 2025, 07:21 PM
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#37
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Junior Member
422 posts Joined: Jan 2011
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QUOTE(Avangelice @ May 28 2025, 11:24 AM) Obv you guys aren't business owners. Yea don't get me started with einvoice jeezAll these while contracts are signed hardcopies that are kept in secured filing cabinets. Suddenly with this stupid ruling, you as a business owner need to start scanning 50 to 100 copies of contracts, some contracts are 4 pages to 5 pages thick. U ever try scanning documents and digitalizing it? It's not easy then upload them into lhdn one by one and have to pay penalty. 100x100 myr it's already 10k. Haven't calculated the money spend on stupid e invoice system? That's what happened to my friend's auntie who owns her own hotel. Yeah this shit is killing smes. |
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May 28 2025, 07:27 PM
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#38
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Junior Member
117 posts Joined: Nov 2008
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QUOTE(Xploit Machine @ May 28 2025, 11:44 AM) 15 years in business .. never did any so called "contracts", in my business is Quotation, Invoice, Purchase Orders and Money In-Out .. I dont care about government and their stupid rules They themselves are not organized, no transparency, but kepochi want to micromanage everyone else. Rusty Nail liked this post
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May 28 2025, 07:37 PM
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#39
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Senior Member
5,272 posts Joined: Jun 2008
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QUOTE(coconutxyz @ May 28 2025, 07:21 PM) Yea don't get me started with einvoice jeez Same. I will delay until Anwar makes his mind up |
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May 28 2025, 08:31 PM
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#40
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Senior Member
2,033 posts Joined: Jul 2005
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QUOTE(Rusty Nail @ May 28 2025, 06:32 PM) stop giving madanon ideas Madani need more fund for their helicopter money project aka MyKasih |
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