The Inland Revenue Board has announced the extension of the implementation period for the Special Voluntary Disclosure Programme (PKPS) for Stamp Duty 2026 by six months, from 1 July 2026 until 31 December 2026.
IRB said the extension is part of the Government’s efforts to encourage voluntary compliance with stamp duty requirements, while providing additional time for taxpayers to adapt to the implementation of the Self-Assessment System for Stamp Duty (STSDS).
The initiative is also expected to reduce non-compliance with provisions under the Stamp Act 1949 and promote continuous improvement in taxpayers’ compliance levels.
Under the extended PKPS Stamp Duty 2026, taxpayers must ensure that the stamping process and payment of stamp duty are completed within the stipulated period, subject to several conditions.
Among the conditions are that all instruments executed between 1 January 2023 and 31 December 2025 will be eligible for penalty exemption during the PKPS period, based on the authority granted to the Stamp Duty Collector under subsection 47A(2) of the Stamp Act 1949.
Taxpayers must complete stamping and payment of stamp duty between 1 January 2026 and 31 December 2026 to qualify for the programme.
IRB clarified that taxpayers are not required to submit an appeal application for penalty exemption, as the penalty will be automatically waived once the stamp duty payment has been made.
However, the PKPS Stamp Duty 2026 does not apply to cases involving fraud.
The tax department also stated that all instruments executed between 1 January 2023 and 31 December 2025 and stamped under the programme will not be subject to audit. Nevertheless, taxpayers remain subject to audits for other instruments that were not submitted under the PKPS programme.
