All Things Newz
Law \ Legal

Extension Of Temporary Tax And Duty Schemes On Property – Property Taxes



To print this article, all you need is to be registered or login on Mondaq.com.

The temporary COVID schemes allowing for reduced tax/duty rates
on transfers of immovable property have been extended until the end
of June 2023.

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 nine months, until the end of June 2023
(formerly September 2022). Such extension is effective pursuant to
the publication of Legal Notices 224 and 225 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 31st July 2023.

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
.


Tax and Duty Schemes on the Transfer of Immovable
Property

11 min read

A summary of some tax and duty reduction schemes on transfers of
immovable property.

The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.

POPULAR ARTICLES ON: Tax from Malta

Startups In Cyprus: Legal And Tax Benefits

Michael Kyprianou Advocates & Legal Consultants

Cyprus is known for offering an innovative, diverse and business-friendly environment for investors which in turn has created an emerging startup ecosystem.

New UK-Luxembourg Treaty

ELVINGER HOSS PRUSSEN, société anonyme

On 7 June 2022, a new double tax treaty along with an additional protocol (“New DTT”) were signed by the UK and Luxembourg.



Source link

Related posts

Changes to the Western Australian Industrial Relations Act – Employee Rights/ Labour Relations

Horace Hayward

Nicola Sharp, Of Financial Crime Specialists Rahman Ravelli, Considers The Latest Instalment In The World Football Corruption Saga – White Collar Crime, Anti-Corruption & Fraud

Horace Hayward

TAX Update: 47th GST Council Meeting – Sales Taxes: VAT, GST

Horace Hayward