Malta budget 2010: Extension to 7 years on Property withholding tax option

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.

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