01 April, 2024
To all Affected Policyholders
STAMP DUTY (EXEMPTION) (NO. 15 & 16) ORDER 2021
Pursuant to the Stamp Duty Exemption Order 2021 gazetted on 22nd December 2021, stamp duty exemption is given to individual and micro-enterprise or small and medium enterprise (MSME) for any policies or certificates issued on or after 1st January 2022 but not later than 31st December 2025 and is only applicable to the following policies.
| Legislation | Eligible Person | Insurance Type | Value of Annual Premium |
| Stamp Duty (Exemption) (No. 16) Order 2021 | Individuals | o Fire Insurance;
o Fire Business Interruption Insurance; o Personal Accident Insurance; o Travel Insurance; o Liability Insurance; and o Engineering Insurance. |
Not exceeding RM150 |
| Stamp Duty (Exemption) (No. 15) Order 2021 | Micro-enterprise or small and medium enterprises
(as may be determined by the National Entrepreneur and Small and Medium Enterprises Development Council)
|
Not exceeding RM250 |
If stamp duty has been paid for any of the exempted policies listed above, please contact the branch either by phone or e-mail from where you purchase the insurance with the following documents:-
- Letter from Progressive Insurance Bhd informing you of the refund of stamp duty;
- Your banking details:
- Name of Account holder
- Name of Bank
- Bank Account No.