Malaysia legislation
Section 2
Seksyen 2
(1)
Instruments in relation to an approved merger or acquisition executed by small and medium enterprises shall be exempted from stamp duty.
(2)
In this paragraph
(a)
“instruments in relation to an approved merger or acquisition”
means
(i)
contract or agreement for the sale or leasing of property
(land, building, machinery and equipment);
(ii)
instrument of transfer and memorandum of understanding;
(iii)
loan or financing agreement; and
(iv)
first leasing agreement; and
5
(b)
“small and medium enterprises” has the same meaning as assigned to it in section 2 of the Small and Medium Industries Development
Corporation Act 1995 [Act 539].
(3)
The exemption under subparagraph (1) shall be subject to the condition that the application for merger or acquisition is received by the Ministry of Entrepreneur
Development and Cooperatives from 1 July 2021 but not later than 30 June 2022.
(4)
The exemption under subparagraph (1) shall apply only to the instrument executed by small and medium enterprises on or after 1 July 2021 but not later than 31 December 2022.
Made 30 December 2021
[MOF.TAX(S)700-2/1/105; PN(PU2)159/Jld. 35]
TENGKU DATUK SERI UTAMA ZAFRUL BIN TENGKU ABDUL AZIZ
Minister of Finance