Malta: Reduced tax rates on transfers of immovable property extended until September 2022 (COVID-19)
Reduced tax and duty rate of 5% and 1.5% respectively on the first €400,000 of immovable property transferred inter vivos
Transfers of immovable property (COVID-19)
The temporary measure allowing for reduced tax and duty rates on transfers of immovable property—provided as tax relief in response to the coronavirus (COVID-19) pandemic—has been extended by three months, until the end of September 2022 (from June 2022).
The temporary measure provides for a reduced tax and duty rate of 5% and 1.5% respectively on the first €400,000 of immovable property transferred inter vivos.
The extension is effective pursuant to the publication of Legal Notices 121 and 122 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 October 2022.
Read a May 2022 report prepared by the KPMG member firm in Malta
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