KUALA LUMPUR (Oct 29): The government has removed the RM200 stamp duty cap on contract notes for trading of listed shares, and increased the rate to 0.15%, from 0.1%.

This was announced by Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz at Dewan Rakyat during the 2022 Budget speech on Friday.

The move is among several initiatives to impose fair tax treatment to the public, the minister said.

Concurrently, sales tax is exempted from brokerage activities for trading of listed shares.

Prior to the Budget 2022 announcement, calls were made to introduce capital gains tax as a source of revenue for the federal government.

Separately, the government also exempted property gains tax on disposals for Malaysians and permanent residents from the sixth year and above.

See more Budget 2022 highlights here.