Case law summary of Prima Cahaya Sdn Bhd v. Pemungut Duti Setem (Case Reference: [2024] 8 CLJ 109)
This case concerns a legal dispute over whether the market value for stamp duty assessment should be based on a government valuation or the actual transaction price of a distressed property. The High Court ruled that the RM117,000,000 sale price represented the true market value, as the government’s significantly higher assessment was found to be an “afterthought” relying on defective comparables and improper valuation methodology.
