Reduced rate of duty on acquisitions of residential immovable property in Gozo extended by another year

By means of Legal Notice 460 of 2021, the Government of Malta has extended the date by virtue of which a reduced rate of duty of 2% is applicable on acquisitions of residential immovable property in Gozo. The applicability of the reduced rate has thus been extended by another year i.e. to acquisitions of residential […]

Written By Stephen Balzan

On February 13, 2022
"

Read more

By means of Legal Notice 460 of 2021, the Government of Malta has extended the date by virtue of which a reduced rate of duty of 2% is applicable on acquisitions of residential immovable property in Gozo.

The applicability of the reduced rate has thus been extended by another year i.e. to acquisitions of residential immovable property in Gozo 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).

How can we help?  

For further information, please contact one of the firm’s tax partners, Stephen Balzan on [email protected] or Elaine Camilleri [email protected]. ACT can help you understand the changes to the tax rules and how these can impact your business.  

Apart from its offices in St. Julian’s Malta, ACT operates from a second office in Gozo, which is situated in the capital city of Victoria.  For an appointment in our Gozo office, please call on +356 21378672 or send us an email on [email protected].