Reduced stamp duty on property situated within an UCA or is scheduled by the PA

The Government of Malta has issued a new Legal Notice (LN 371 of 2017), by virtue of which a reduced rate of stamp duty of €2.50 for every €100 or part thereof is due on the transfer ‘inter vivos’ of an immovable property when:

  • The transfer is made on or after the 10th October 2017 but before the 1st January 2019 to a person who does not require an AIP permit;
  • The property is situated within an Urban Conservation Area (UCA) and is scheduled by the Planning Authority (PA) in terms of Article 57 of the Development Planning Act;
  • No relief under these rules and article 32C of the Duty on Documents and Transfers Act was claimed in respect of any previous transfers of the said property.

The relief provided by these rules shall be forfeited where illegal development would have taken place on any part of the property and / or the property is not regenerated according to the characteristics of the area or restoration of the said property.

For further information, you may contact the firm’s tax partners Stephen Balzan on [email protected] or Elaine Camilleri on [email protected].

Apart from its offices in St. Julian’s Malta, ACT operates from a second office in Gozo, which is situated in the capital city of Victoria.  For an appointment in our Gozo office, please call on 00356 21378672 or send us an email on [email protected].

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