No penalties in first year of new stamp duty system, says LHDN

The inland revenue board says it is to help ease duty payers into the new self-assessment system.

LHDN said it has already opened the self-assessment e-stamp duty system via the MyTax portal to facilitate testing and preparation. (Bernama pic)

PUTRAJAYA:

 The inland revenue board (LHDN) will not impose penalties during the first year of the self-assessment e-stamp duty system for applications submitted from Jan 1-Dec 31, 2026, in an effort to ease duty payers into the new regime.

In a statement today, LHDN said the concession covers errors in Stamp Duty Return Form (BNDS) submissions, inaccurate information affecting stamp duty assessment, and offences identified under subsection 72D(2) of the Stamp Act 1949.

“The measure is intended to ease duty payers into the new system, encourage voluntary compliance and allow time to familiarise themselves with electronic self-stamping,” it added.

The self-assessment e-stamp duty system has been opened for early access via the MyTax portal to facilitate testing and preparation.

Assistance is available via the HASiL contact centre at +603-8911 1000, HASiL Live Chat, or the feedback form at maklumbalaspelanggan.hasil.gov.my/Public/ on LHDN’s official portal. - FMT