Tax and duty exemption on transfers of older, vacant properties

Further to the announcement in the Budget for 2022 of the introduction of a tax exemption on first €750,000 on transfers of certain property (property constructed over 20 years ago which has been vacant for 7 years, property in an UCA or property with traditional Maltese features), the Relief from Income Tax and from Duty on Documents and Transfers on Certain Property Transfers Rules, 2021 (LN 461 of 2021), which set out the details and criteria of the measure, have been published.

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