Extension of temporary Tax and Duty Schemes on Property

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 three months, until the end of September 2022 (formerly June 2022). Such 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.

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.