IRB warns that unstamped documents may be invalid for official use, highlights online payment options and upcoming self-assessment system from 2026
KUALA LUMPUR: The Inland Revenue Board has issued a strong reminder about the critical importance of paying stamp duty on legal agreements.
Failure to properly stamp documents could result in serious legal and financial consequences, according to the tax authority.
IRB Director of Consultation, Operations and Audit Division Nor Habibah Hamidon stressed that unstamped documents may not be accepted in official transactions.
“It’s important to understand that duty is imposed on the instrument itself, not on the transaction,” she said during a Bernama Radio programme.
She explained that stamp duty applies to written documents with legal, commercial or financial implications under the Stamp Act 1949.
The IRB has introduced the Stamp Assessment and Payment System (STAMPS) as an online platform for electronic assessment and payment.
Taxpayers can access the system through https://stamp.hasil.gov.my using FPX or Virtual Account payment methods.
Payments can be made via internet banking, bank counters, or through various electronic transfer systems.
For disputed assessments, taxpayers may submit an appeal for reassessment according to established procedures.
A new Self-Assessment Stamp Duty System will be implemented in phases starting January 1, 2026.
The system will allow taxpayers to self-assess and pay duties directly through the MyTax portal.
“You must have a Tax Identification Number, log in to MyTax, upload the instrument, complete the STSDS form, and make payment within the specified time,” Nor Habibah explained.
Taxpayers will need to maintain records for seven years under the new self-assessment framework.
The phased rollout will depend on the type of instrument involved, eliminating the need for official assessment notices.
Similar systems in Singapore, Hong Kong, the United Kingdom and Australia have proven effective in improving compliance and efficiency. – Bernama
