Death Duties
- If a property is purchased in one name, the heirs of the deceased have to pay 5% provisional tax on the value of the property declared. This value will in turn by verified by an appointed architect.
- If a property is bought jointly and one of the parties passes away, provisional tax of 5% is only paid on half the estate, i.e. half the value as stated in (1) above
- Though no death duties are payable in Malta, Transfer duty (according to the Duty of Documents and Transfers Act, 1993) is charged on:
- Immovable property in Malta.
- Any shares in a locally registered company (excluding those companies listed on the stock exchange.
