UPDATE | Feedback On Stamp Assessment And Payment System (STAMPS)

Dear Members of the Kuala Lumpur Bar,

 

On 20 April 2021, the Corporate & Conveyancing Practice Committee (“CCPC”) issued Circular No. 074/2021 requesting feedback pertaining to LHDNM’s Stamp Assessment And Payment System (STAMPS).

CCPC has since reviewed all the feedback received and written to LHDNM to highlight pertinent issues including delays in the adjudication process. A copy of our letter dated 27 May 2021 can be found here.

Kindly be informed that LHDNM has since responded in particular with its timeline in accordance with LHDNM’s Charter for issuance of notice of assessments should the application submitted contain accurate information and supporting documents:

(a) Documents imposed with nominal stamp duty (RM10.00) – 7 working days;

(b) Conveyancing documents such as Form 14A and Deed of Assignments – 15 working days;

(c) Security documents – 7 working days.

Members are encouraged to keep in view the aforesaid timeline when submitting applications via STAMPS.

For further information, click here for a copy of LHDNM’s letter.