Malta: Reduced tax rates on transfers of immovable property extended until December 2021 (COVID-19)

The tax relief extension on transfers of immovable property is in response to the coronavirus.

Reduced tax rates on transfers of immovable property extended until December 2021

The temporary measure providing for reduced tax and duty rates of 5% and 1.5%, respectively, on the first €400,000 of the value of immovable property transferred inter vivos has been extended by five months, through the end of December 2021 (from July 2021). Read TaxNewsFlash

The reduced rates are provided as tax relief in response to the coronavirus (COVID-19) pandemic.

The tax relief extension is made available with publication of Legal Notices 324 and 325 of 2021.

When a promise of sale or transfer is entered into by December 2021, the reduced rates apply as long as the final transfer is made by 30 June 2022 (formerly 31 January 2022).

Read an August 2021 report prepared by the KPMG member firm in Malta

 

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