Amendment to first time buyers duty exemption

Article 3 of the Exemption of Duty in terms of article 23 Order [SL 364.12], which deals with the exemption of duty on acquisition of first immovable property, has been revised in virtue of LN 427 of 2020, published on 10 November 2020, inter alia introducing a new proviso in terms of which transfers of property made on or after the 20th October 2020 but before the 1st January 2022, which qualify for relief of duty under article 32(4)(a) of the Duty on Documents and Transfers Act, shall be exempt from duty on the first €200,000 of the aggregate value of the consideration, provided the relevant conditions are met.

The Gozo Property Scheme has also been extended in virtue of Article 4.

LN 427 of 2020 also revises article 5 of the Order which relates to the exemption on the first eur400,000 on certain property transfers.