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First-Time Buyers' Property Tax Waiver registration deadline extended

The Ministry for Finance yesterday evening announced that although the scheme announced in the Budget 2013 exempting those buying their first residential property from the 3.5% duty on the first €150,000 of the property value ends on 30 June 2015, the deadline for registration is being extended by three (3) months until 30 September 2015.

The Ministry said that "In view of the successful uptake of this scheme, the Ministry for FINANCE has been approached by various stakeholders who have requested this partial extension. The Ministry has considered the request as reasonable. This partial extension will help avoid undue pressure on notaries’ offices during the last weeks prior to the deadline."

The statement concluded that the scheme has been a huge success in helping young people buy their first home, and has given a much-needed stimulus to the property market and the economy.


source: Ministry of FINANCE, Malta