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Malta – 10th November 2009 - People selling a second property in Malta now have a 7 year period including 2010 and 2011, as opposed to 5 years on choosing whether to pay a 12 per cent final withholding tax or 35 per cent on income.
In 2006, the government had given a five-year term from the date of purchase by when sellers can choose either to pay the withholding tax or the normal rates on capital gains.
For further information about how Zammit & Associates – Advocates can help you with your immovable property law requirements kindly contact us on info@zammit-law.com
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