TAX QUESTIONS? YOU ASK LAH!
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Q: I am a sole proprietor with 3 employees. I have employed them in year 2023. Is stamping required for these executed employment contracts?
A: Generally, an employment contract is subject to stamp duty. However, if you executed the employment contracts with your employees before 1 January 2025, the employment contracts are exempt from stamp duty. An exempt employment contract may be submitted to LHDN for assessment and endorsement to obtain a stamp duty exemption certificate.
Wishing you plentiful tax savings!
Zen Chow
YYC Tax Guru
