Covid Reduced Stamp Duty And Property Tax

Malta has published Legal Notice No. 324 of 2021, which includes amendments for the extension of the reduced stamp duty rate from 5% to 1.5% on the first EUR 400,000 of property value in the case of property transfers provided that the transfer is made before 1 January 2022 (extended from 1 August 2021). Further, the reduced rate may apply where a notice of a promise of sale is given to the Commissioner for Revenue before 1 January 2022 (extended from 1 August 2021) provided that the transfer is made by 30 June 2022 (extended from 31 January 2022) and the notice of the final deed in relation to the transfer is given to the Commissioner by 31 July 2022 (extended from 28 February 2022).