In this year’s budget speech, the Finance Minister announced a number of tax measures, including the further reduction in the personal rates of income tax; the extension of the exemption from stamp duty on the first EUR150,000 of the property’s value for first time buyers up to 30th June 2015; the abolition of the option of income tax on capital gains at the normal income tax rates up to 35% upon transfers of immovable property and the reduction of the final property transfer tax to 5%, 8% or 10% depending on various criteria.
© 2019 KPMG, a Malta civil partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.