By means of Legal Notice 460 of 2021, the Government of Malta has extended the date by virtue of which an exemption from duty is applicable to first-time buyers of residential immovable property on the first Eur200,000 of the value of the said property. The remaining value is subject to a duty of 3.5%.
The applicability of the exemption has been extended by another year i.e. to acquisitions of immovable property effected up to the 31st December 2022, provided that the notice of transfer has been submitted to the Commissioner for Revenue on or before the 28th February 2023 (previously 28th February 2022).
