Malaysia legislation
Section 27
Section 27
Amendment of section 20b
The Stamp Act 1949 is amended by substituting for section 20b the following section:
“20b. (1) Every conveyance either on sale or by way of gift or settlement which operates to vest or transfer an undivided interest in real property, shall contain an affidavit of the transferee certifying that the transaction effected by the instrument does not form part of a larger transaction or series of transactions completed or to be completed within a period of twelve months after the date of the first of the instruments employed to complete the conveyance of the property.
(2)
Where the transaction effected by the instrument forms part of a larger transaction or series of transactions, ad valorem duty upon that instrument and upon every other instrument following shall be calculated on the aggregate of the consideration or market values of the separate parts or parcels being conveyed, whichever is the higher, at the rates specified under of subitem 32(a) in the First Schedule.”.
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Finance