Reduction in taxes on property transfers

On 8 June 2020 a package of measures intended to regenerate the economy in the wake of COVID-19 were announced.

These measures included:

  • a reduction in the stamp duty of the acquisition of immovable property (residential) from 5% to 1.5%; and
  • a reduction in the final withholding tax on the sale of immovable property (residential) from 8% to 5%.

These reduced rates will be applied to the first eur400,000 of the value of the property, on transfers which are effected before 1 April 2021 and provided that the final deed of transfer is given to the Commissioner for Revenue by the 30th April 2021.

Update: See MIT News 10 June 2020 – CfR Guidance on COVID Recovery Measures 

Updated 10 June 2020
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