Malaysian shippers’ tax exemption extended to 2036
Ship purchase and construction loans will attract fixed stamp duty of RM2,000 for amounts up to RM100 million, and RM5,000 above that threshold.
Malaysian shipping companies will retain their full income tax exemption for another decade, taking it to the Year of Assessment 2036. The government also introduced fixed stamp duty charges for ship financing, according to Prime Minister Datuk Seri Anwar Ibrahim’s Budget 2027 speech.
Anwar said the tax exemption extension was intended to support the domestic maritime industry.
Loans used to purchase or construct ships will carry stamp duty of RM2,000 where the amount is up to RM100 million. For larger loans, the duty will be RM5,000. Loan agreements generally attract an ad valorem duty of 0.5% under standard rates.
Separately, the Bursa Malaysia Transportation & Logistics Index rose 1.19% on Friday, placing it among the exchange’s leading sectoral indices.
