My client suggests that I have to borrow from the bank with which he has a connection, even if there is no special discount from them. I`m a bit skeptical about this and I want to make sure there`s no motivation behind these links. As HDFC is also one of the banks that this manufacturer has recommended, I would like to know what it is and how I will benefit from it. Do I have to borrow from these establishments? The imposition and payment of stamp duty can be made electronically through the Stamp Assessment and Payment System (STAMPS) of the tax office. An instrument that is not stamped or insufficiently stamped is not admissible as evidence in court and is not paid for by a staff member. Duty rates vary depending on the type of instrument and the values being traded. Exemption from stamp tax on instruments executed by a life-saving contractor or developer, i.e. a contractor or developer designated or approved by the Minister of Housing and Local Government to carry out renovation work on an abandoned project. Instruments are loan agreements and transfer instruments approved by the approved financier for the purpose of transferring resuscitated housing from the abandoned project. This applies to instruments executed by the contractor or developer who saves on january 1, 2013 or after January 1, 2013 and no later than December 31, 2020, no later than December 31, 2025. Examples of exemptions, orders or exemptions from stamp duty available are: Total exemption from stamp duty on the deed of transfer in respect of the purchase of the first residential property with a value not exceeding RM500,000 by a Malaysian citizen under the National Housing Department`s Rent-to-Own (RTO) system. The exemption is granted in two stages, i.e.
from the real estate developer (PD) to a qualified financial institution (FI) and from the FI to the Malaysian citizen. The exemption is subject to the execution of the following agreements between 1 January 2020 and 31 December 2022, i.e. the sales contract between fi and FI and the RTO agreement between FI and the Malaysian citizen. RM3 for each RM1,000 or a fraction of them depending on the consideration or higher value. The Office generally applies one of three methods of valuation of ordinary shares for stamp duty purposes: up to 300,000 (transfer and loan agreement) (Note 1) Stamp duty is levied on instruments and not on transactions. If a transaction can be made without creating a transfer instrument, no tax is payable. Exemption from stamp duty for all instruments of an asset Sale Agreement & Asset Lease Agreement concluded between the client and the financier and concluded in accordance with the principles of the Syariah Act to extend an Islamic revolving financing facility, provided that the instrument of the existing facility is properly stamped. When a financial institution approves housing construction loans, it performs due diligence by checking the developer`s balance sheet and verifying the real estate documents necessary to ensure that the building is legal and that all necessary authorizations have been obtained. . . .