Further extension to the Property Tax Reduction Scheme to June 2023

Legal Notice 225 of 2022 provides for a further extension to the tax reduction scheme which was initially introduced as a Covid measure in 2020. The scheme provides for a reduction of the income tax due to 5% and a reduction on the stamp duty due to 1.5% on the first €400,000 of the transfer value, upon a transfer of immovable property situated in Malta. The reduction now applies to transfers made before June 2023.

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