Back
FEDERAL COURT PUTRAJAYA
HAVI LOGISTICS (M) SDN BHD – Appellant
Versus
PEMUNGUT DUTI SETEM – Respondent
| Table of Content |
|---|
| 1. nature of the agreement and background facts (Para 1 , 2 , 3 , 4 , 5 , 6 , 8 , 9 , 10 , 12) |
| 2. court's reasoning on legal definitions and instruments (Para 13 , 14 , 15 , 16 , 18 , 19 , 20 , 21 , 23) |
| 3. dispute on nature of duty assessment (Para 17 , 25 , 27 , 35 , 36 , 60) |
| 4. final determination of the court on duty assessment (Para 29 , 39 , 40 , 41 , 42) |
Introduction
[1] This appeal concerns the issue of whether fixed or ad valorem stamp duty is payable under the Stamp Duty 1949 ("Act") on a commercial contract, namely, an Asset Purchase Agreement.
Background Facts
[2] On 6 February 2020, the appellant, Havi Logistics (M) Sdn Bhd, entered into an Asset Purchase Agreement ("the Agreement") with Martin-Brower Malaysia Co Sdn Bhd ("MB Malaysia") to purchase certain assets and liabilities.
[3] The principal operative clauses in the Agreement were cls 2.1(a) to (c). They read as follows:
2.1 Acquired Assets and Assumed Liabilities.
(a) Subject to and in accordance with the terms of this Agreement, the Seller hereby sells, transfers, conveys, assigns and delivers to the Purchaser, and the Purchaser hereby purchases from the Seller at the Cl
An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers
Please visit our Training & Support
Center or Contact Us for assistance
Scan Me!
India’s Legal research and Law Firm App, Download now!
For Daily Legal Updates, Join us on :
Back to top
