Extension of the reduced tax and stamp duty scheme on transfers of immoveable property

The temporary COVID-19 measure for the reduction in property transfers tax and stamp duty for transfer of property has been extended for promise of sale contracts concluded under 31 December 2021 and contracts of property sale until June 2022. This scheme previously applied to promises of sale agreements concluded by 31 July 2021 and contracts of sale drawn until 32 January 2022.

Under this scheme, property transfers tax and stamp duty are reduced to 5% and 1.5% respectively on the first €400,000 value of the property transferred.