Stamping Agreement LHDN Online: A Convenient Solution for Taxpayers
Stamping of agreements is an essential process that individuals and companies have to undergo for various legal transactions. The stamp duty is levied by the government on a variety of instruments, such as property sale deeds, lease agreements, and loan documents, among others. In Malaysia, the Inland Revenue Board of Malaysia (LHDN) is responsible for the collection of stamp duty and enforcement of stamping regulations. In recent years, the LHDN has introduced an online platform for the stamping of agreements, making it more convenient and efficient for taxpayers.
The stamping of agreements is mandatory under the Stamp Act 1949 and failure to comply can result in legal consequences. The previous process of manual stamping involved physically visiting the LHDN office and waiting in long queues to complete the process. However, with the introduction of the online platform, taxpayers have the option to stamp their agreements from the comfort of their homes or offices.
The process of stamping agreement LHDN online is simple and straightforward. To begin, taxpayers have to register for an account on the LHDN website and submit their personal and company details. Once the account is activated, users can upload the agreement or document that needs to be stamped, along with the payment of the stamp duty. The payment can be made through online banking or credit/debit cards. The stamping process is usually completed within one working day, and the stamped document can be downloaded from the LHDN website.
The online platform has several advantages for taxpayers. Firstly, it saves time and reduces the hassle of physically visiting the LHDN office. Additionally, it enables taxpayers to stamp their agreements at any time of the day, as the platform is available 24/7. The online platform also provides a secure and traceable system, allowing taxpayers to track the progress of the stamping process. The stamped document is considered a legal instrument, and online stamping provides the same legal effect as traditional manual stamping.
In conclusion, the stamping of agreements is a necessary legal process that must be complied with by Malaysian taxpayers. The introduction of the online platform by the LHDN has made the process more convenient and efficient, providing a secure and traceable system for taxpayers to stamp their agreements online. It is recommended that taxpayers take advantage of this convenient solution and avoid the hassle of manual stamping.