Stamp Duty Exemption on Instruments Relating to Restructuring of Loans Approved by Credit Counselling and Debt Management Agency (CCDMA)

Effective Date – The Stamp Duty (Exemption) (No 8) Order 2013 [P.U.(A) 132/2013] was gazetted on 4 April 2013 and is deemed to have come into operation from 1 January 2013 until 31 December 2017.

Exemption – All instruments relating to the restructuring or rescheduling of loans executed between a participant of the debt management programme and a credit provider and executed on or after 1 January 2013 but not later than 31 December 2017, are exempted from stamp duty.

The debt management programme must have been approved by the Credit Counselling and Debt Management Agency.

A credit provider refers to the following [subparagraph 2(2)]:

· a bank licensed under the Banking and Financial Institutions Act 1989;

· an Islamic bank licensed under the Islamic Banking Act 1983;

· a development financial institution prescribed under the Development Financial Institutions Act 2002;

· a life insurer licensed under the Insurance Act 1996;

· a takaful operator registered under the Takaful Act 1984;

· a designated payment instrument issuer approved under the Payment Systems Act 2003;

· a co-operative society registered under the Co-operative Societies Act 1993; or

· the Malaysian Building Society Berhad.