Malta: Extension Of Temporary Tax And Duty Schemes On Property

The temporary COVID schemes allowing for reduced tax/duty rates on transfers of immovable property have been extended until the end of June 2023.

The temporary COVID-19 measure providing for a reduced tax and duty rate of 5% and 1.5% respectively on the first EUR400,000 of immovable property transferred inter vivos has been limitedly extended by nine months, until the end of June 2023 (formerly September 2022). Such extension is effective pursuant to the publication of Legal Notices 224 and 225 of 2022. The benefit applies provided that a promise of sale was entered into by 31 December 2021 and the notice of final deed reaches the Commissioner for Revenue by 31^st July 2023.

For further details on this measure and other immovable property measures, you may wish to refer to Tax and Duty Schemes on the Transfer of Immovable Property.

Tax and Duty Schemes on the Transfer of Immovable Property

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A summary of some tax and duty reduction schemes on transfers of immovable property.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.