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Budget 2020 – Stamp Duty On Foreign Currency Loan Agreement To Be Increased

At present, where a loan is a foreign currency loan, the stamp duty payable on the loan agreement is RM 5.00 for every RM 1,000.00 or part thereof but the total duty payable shall not exceed RM 500.00.

It is proposed that this be increased to RM 2,000.00.

This amendment is expected to come into operation on 1 January, 2020.

Vijey M. Krishnan (Partner) 
(T): 603 – 2632 9868
(E): mkvijey@rdl.com.my

William Wong (Senior Associate)
(T): 603 – 2632 9905
(E): williamwong@rdl.com.my

Nicholas Mark Pereira (Senior Associate)
(T): 603 – 2632 9911     
(E): nicholaspereira@rdl.com.my