Q:
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How does the stamp duty on vehicles purchases charged?
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A:
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For brand new vehicles that has never been registered, stamp duty is charged at 0.03% of the amount appeared on the “purchase contract”. For second-hand vehicles that has been registered before, stamp duty is charged at 0.05% of the amount appeared on the “property transfer proof document”.
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Q:
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Does stamp duty relevant if no sales contract is signed?
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A:
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Yes. Although no sales contract is signed, there is document which has the substance of a contract. Such as agreements, deeds, treaty agreement, vouchers, confirmation letters etc. A stamp duty at 0.03% on the amount appeared on “purchase contract” is still applicable.
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Q:
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Does stamp duty applies on the after-sale vehicle service warranty?
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A:
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Stamp duty would be relevant if the after-sale vehicle service warranty does not involve any taxable contracts. In contrast, stamp duty will be charged if the warranty agreement involves taxable contracts, such as purchase or sales contract, or, contract for processing with supplied parts.
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Q:
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Which category of stamp duty should be classified for vehicle repair and maintenance?
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A:
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A vehicle is a motor vehicle. Its repair and maintenance fit the category of “contract for processing with supplied parts. Thus, a stamp duty at 0.05% of the amount appeared on the contract is applicable.
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Q:
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What is the tax base for stamp duty on vehicle insurance contract?
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A:
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The tax base for vehicle insurance contract is the insurance income. It excludes the amount of vehicle and vessel tax collected by the insurance company.
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