Stamp duty reduction on property acquired in Gozo

Persons who acquire residential property in Gozo by the end of 2018 will benefit from a reduction in stamp duty from 5% to 2% provided the promise of sale agreement is registered with the Inland Revenue Department by the end of 2017. By virtue of LN 342 of 2017, the Minister of Finance has announced […]

Written By ACT Team

On December 11, 2017
"

Read more

Persons who acquire residential property in Gozo by the end of 2018 will benefit from a reduction in stamp duty from 5% to 2% provided the promise of sale agreement is registered with the Inland Revenue Department by the end of 2017.

By virtue of LN 342 of 2017, the Minister of Finance has announced that persons acquiring residential property in Gozo who register their promise of sale agreements in 2018 will also benefit from the reduction in the stamp duty.  A new requirement introduced by this legal notice is that the notice of the final deed must be given to the Commissioner for Revenue by not later than 28th February 2019.

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 00356 21378672 or send us an email on [email protected].