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Transfer tax structurally reduced to 2%

From 15 June 2011 the transfer tax on the acquisition of a residential property was temporary reduced to 2 percent. This temporary measure runs until 1 July 2012. In the 2013 Budget Agreement is decided that on 1 July 2012 the rate of the transfer tax on the acquisition of residential properties is structurally reduced to 2 percent. This amendment will be included in a bill that will be offered to the Lower House. After implementation of the Act the change will have effect retroactive to 1 July 2012.

In anticipation of this bill it is already approved by the State Secretary of Finance that from 1 July 2012 transfer tax is levied at a rate of 2 percent when a residential property is acquired.

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