Real Estate Transfer Tax

On 1st June 2016 the House of Deputies passed an amendment of the prescription 340/2013 Col. concerning the real estate transfer tax. The amendment includes important changes, who are specified below. Nevertheless it has to be mentioned, that the amendment was not fully accepted, as the Senate and the president still have to decide on it. Therefore it is not definite when, if and how the amendment will be passed.

 The most important changes, passed by the House of Deputies, are the following:

-       The acquirer is obligated exclusively himself to pay the taxes.

-       There won’t be any legitimate guaranty.

-       The first transfer of family homes or apartments for a valuable consideration is free of taxes, if the immovable property is already finished or in use. (Immovable properties under construction are not free of taxes.)

 The amendment is expected to become effective in autumn. In the meantime the current regulation is still used in every case.

 We are going to report on the further developments.