Real Estate Transfer Tax

On 27 July 2016 the President signed an amendment of the prescription 340/2013 Col. concerning the real estate transfer tax. The amendment includes important changes, who are specified below..

 The most important changes 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 on 1 November 2016. In the meantime the current regulation is still used in every case.