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Remission of tax and stamp duty
The Loans Guarantee (Bodies Corporate) (Remission of Tax and Stamp Duty) Order 2023 [P.U.(A) 185] was gazetted on 15 June 2023. The Order provides that any tax payable under the Income Tax Act 1967 (ITA) and any stamp duty payable under the Stamp Act 1949 in relation to the following shall be remitted in full:
(a) Master facility agreement in relation to the Syndicated Term Financing-i Facility amounting to RM3.5 billion made between Perbadanan Tabung Pendidikan Tinggi Nasional and CIMB Investment Bank Berhad, CIMB Islamic Bank Berhad and AmBank Islamic Berhad (Master Facility Agreement)
(b) Guarantee given by the Government of Malaysia in relation to the Master Facility Agreement, and
(c) Transfer certificate or other document in relation to the assignment, transfer or novation of rights, benefits or obligations under the Master Facility Agreement