By means of Legal Notice 325 of 2024, the Government has amended the Duty on Documents on Acquisition of the Second Immovable Property to be used as Sole Residence (Exemption) Order, by virtue of which the duty paid on the first Eur86,000 of the value of the property will be refunded.
The exemption order provides that where an individual transfers his residential immovable property (‘the replaced property’) and acquires another residential immovable property ‘replacement property’ within 12 months from the date of transfer of the relaced property, the duty paid on the first Eur86,000 will be refunded back.
The above shall apply to acquisitions made up to 31st December 2025 (extended by one year) where the notice required in terms of the Duty on Documents and Transfers Act and the Rules issued in terms of the said Act has to be submitted by not later than 28th February 2026 (extended from 28th February 2025).
