Welcome to Quantity Surveying and Construction Procurement

Assalamualaikum and dear all,

This blog compliments teaching and learning for courses that I facilitate at the International Islamic University Malaysia (IIUM). The contents serve to further 'connect' students to the 'real world' (quantity surveying, construction procurement and others). In trying to provide current information to students, I will be quoting or reproducing works of others and for this I am grateful. I will indicate clearly the source(s). I hope I will not offend anyone; and many will frequent this blog and benefit from its contents.

Thank you and wassalam.

Prof. Sr. Dr. Khairuddin Abdul Rashid

Saturday, September 12, 2009

Stamp Duty Act Deferred until 2011

Salam and dear all, Following appeals from key players of the construction industry, the government has deferred the Stamp Duty Act until 2011 (as reported by Bernama 12 September 2009). According to the report (in quoting the MBAM) the deferment will allow the construction industry players as well as other service industries time to adjust and take necessary measures to manage their businesses accordingly. The Treasury announced on Sept 9, 2009, that the ruling has been deferred to 2011 and from Sept 15, 2009, to Dec 31, 2010, all service agreements will be imposed a stamp duty of RM50. After Jan 1, 2011, all service agreements which include construction contracts will be levied an ad valorem stamp duty of 0.5 per cent of the total contract sum. Source: Bernama 12th September 2009. This blog posting 8th September 2009. Wassalam.
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