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 extended by five months, until the end of December 2021 (formerly July 2021). Such extension is effective pursuant to the publication of Legal Notices 324 and 325 of 2021. Where a promise of sale or promise of transfer is entered into by the said December date, the schemes apply provided that the final transfer is made by 30 June 2022 (formerly 31 January 2022).
The publication of the LNs follows the Prime Minister's announcement on 16 June 2021 of the extension of such measure which, initially, was part of Government's Economic Recovery Plan for Malta pursuant to the COVID-19 pandemic, effective as from 9 June 2020.
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.
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