Budget 2010 - Property Tax - Property restoration refunds

Budget 2010, presented in Parliament today November 11 2009 by Finance Minister Tonio Fenech, announced a further adjustment on the 2005 tax scheme(where a choice was offered between a 12% withholding tax on market value, or a capital gains payment, over property transfers undertaken within 5 years of date of purchase), and has now been extended for a further 2 years (to 7 years) from the date of purchase for the years 2010 and 2011.

Restorations of scheduled Grade 1 historical buildings will now also be eligible for a refund of 15.2%.

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  1. If you need some informations about Malta Tax you can visit our Website (http://www.companyinmalta.com/) or follow us on Twitter (http://twitter.com/#!/ES_Consultancy), and in case do not hesitate to contact us.

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