PROPERTY TAXATION

Property transfer tax declaration in just 15 minutes

property-transfer-tax-declaration-in-just-15-minutes

The online submission of transfer tax declarations appears to have slashed the red tape faced by property owners: Data from the Independent Authority for Public Revenue show the process of filling in and submitting the property transaction tax statement takes just 15 minutes, according to the average time taken by notaries on the myProperty platform.

The benefits of digital submission are considerable, IAPR officials say, given the number of weeks this process used to require, while the new system has been introduced during a period when interest in property transactions has skyrocketed.