STAMP DUTY EXEMPTION ORDERS FOR CERTAIN INSURANCE POLICIES GAZETTED

Pursuant to Budget 2022 that was tabled by the Minister of Finance in October 2021, the following subsidiary legislations were gazetted in late December 2021 where stamp duty exemption is given to individuals and micro enterprise or small and medium enterprises for the purchase of the following insurance policies, effective 1 January 2022:

Subsidiary Legislation

Eligible Person

Type of Insurance

Value of the Annual Premium

AIG System Readiness

Stamp Duty (Exemption) (No. 16) Order 2021

Individuals

 
  • Fire Insurance;
  • Fire Business Interruption Insurance;
  • Personal Accident Insurance;
  • Travel Insurance;
  • Liability Insurance; and
  • Engineering Insurance.

Not exceeding RM150

To be advised

Stamp Duty (Exemption) (No. 15) Order 2021

Micro enterprise or small and medium enterprises (as may be determined by the National Entrepreneur and Small and Medium Enterprises Development Council)

Not exceeding RM250

To be advised

If you have paid the RM10 stamp duty for any of the exempted policies above, please provide the following details and the refund will be effected within 60 days of receipt of your complete information:

Please do not hesitate to email us at AIGMYCare@aig.com if you need clarification.

Click here if you meet the above