The Stamp Duty for inheritance via Will or Distribution Act 1958/Intestate Succession Ordinance 1960 or Faraid is only at nominal value of RM10.00 per transfer. There will be no RPGT payable for inheritance via Will or Distribution Act 1958/Intestate Succession Ordinance 1960 or Faraid because it is treated as if there is no sale, no gain.
"Why pay more now when you can save through a will"Month: November 2019
IRB says it can collect outstanding taxes even after death Published 28 Jul 2017, 8:06 pm | Updated 29 Jul 2017, 1:04 am The Inland Revenue Board (IRB) says it is legally empowered to collect outstanding taxes even after someone has died. “IRB is empowered in accordance with Section 74 and Section 106 of the Income Tax Act 1967 to claim a deceased’s outstanding tax from the rightful next-of-kin. “If the next-of-kin is not able…
"Till Tax Do Us Part!"