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Press Release
30 Dec | Friday
Notification: Extension of income tax and stamp duty exemption for Islamic foreign currency business until 2020 has been officially gazetted on 27 December 2016
As announced in the recent Budget 2017, the exemption period of income tax to entities carrying out Islamic banking and Takaful business through the International Currency Business Unit (ICBU) in foreign currency, and the stamp duty exemption on instruments of such activities, will be extended from year of assessment 2017 until 2020. This is part of continuous effort to sustain Malaysia’s leading position as an international Islamic finance marketplace.

The exemption will be eligible for the financial institutions with ICBU operations and International Islamic Banking licence until year of assessment 2020.

The extension of stamp duty exemption for Islamic foreign currency business until year of assessment 2020 has been officially gazetted on 27 December 2016. Kindly refer the attachment. (Updated on 30 December 2016).
 

Further details will be provided in due course.

For further information, please contact MIFC Promotions Unit, Bank Negara Malaysia at the following details:

Telephone: 03 9179 2230 E-mail: themarketplace@mifc.com / jamy@bnm.gov.my

Click here to view PERINTAH DUTI SETEM (PENGECUALIAN) (NO. 3) 2016


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