PROPERTY TAXATION

Transfer tax declared online

transfer-tax-declared-online

The online declaration of the property transfer tax will soon be possible through a new platform the tax administration is about to launch on Taxisnet in the next few days.

Taxpayers acquiring apartments, plots of land etc will be able to have their transactions processed through the new platform without having to visit their tax office. Sources say the use of the new online application will originally be optional, until end-May, and then become compulsory.

The new process will abolish the handwritten declaration forms concerning the property transfer tax and the accompanying documents that are currently forwarded by email or post to the competent tax office due to the pandemic’s restrictions.

Tax administration sources explain that the process will be conducted by notaries, who will draft the declaration, calculate the property’s taxable value and submit it on behalf of the buyers, who will assume full responsibility for what is being declared.

After an online check conducted automatically by the system, the tax due will be ascertained and the debt serial number will be immediately issued. The buyer will have to pay the tax in a lump sum for the property transfer to be formally completed.