According to experts, the new budget is adopted by the Government of Malta will contribute to the growth of the real estate market, writes Opp Connect. In 2013, will be canceled stamp duty of 5% on the transfer of property by inheritance from parents to children, and will be increased from 116 500 to 150 000 euros bar for first time buyers, with who do not pay stamp duty of 3.5% on the purchase. There will also be extended from 7 to 12 years (since 2013) the period during which a foreign seller of real estate will be able to choose to pay at the rate of 35% or 12% tax on the income whether to tax on capital gains. The maximum income tax rate in Malta will decrease from 35% to 32% next year, up to 29% in 2014 and to 25% in 2015. Ray Woods of Maltabuyproperty.co.uk, said OPP Connect: "In general, these measures are positive for the real estate market and the budget they will benefit We do not expect a large growth in investment in real estate, but it will certainly stimulate demand" Tax policy.. Malta is in sharp contrast with the tightening of the tax burden in France, Spain and some countries of Southern Europe. HomesOverseas.ru
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