Reduced Stamp Duty Rates
News    ·   06-09-2013

AUTHOR: Donald Vella, David Farrugia

By virtue of this amendment, with effect from the 1st of January 2013, the stamp duty otherwise chargeable in terms of the Duty on Documents and Transfers Act on the purchase by persons or companies of property outside an "Urban Conservation Area" (UCA) but within specified zones identified by the Malta Environment and Planning Authority, for the purpose of restoration and development, shall be reduced to the rate of 2%. This is subject to the conditions and parameters issued by the Malta Environment and Planning Authority. Together with the notice to be given by the notary of deeds which are subject to duty, there shall be submitted a certificate issued by the Malta Environment and Planning Authority establishing the conditions under which the restoration and development is permitted on the property in question.
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