TAX ON PROPERTY TRANSFERS RULES (schedulee)

SUBSIDIARY LEGISLATION 123.92

TAX ON PROPERTY TRANSFERS RULES

19th May, 2006

LEGAL NOTICE 112 of 2006, as amended by Legal Notices 409 of 2007,

336 of 2010, 426 of 2012, 68 of 2017 and 191 of 2020.

The title of these rules is the Tax on Property Transfers

Rules.

Rule 22(5)

INCOME TAX ACT

(CAP. 123)

Tax on Property Transfers Rules

Property acquired under more than one acquisition

FORM TPT 5

Architect’s Report on the Apportionment of the Transfer Value

This report is to be attached to Form TPT 4

Note: When an item of property acquired was a construction of more than one

level, the report is to state whether it has been demolished or not. If it has not been

demolished the area to be established is the sum total of the surface areas of each

level, including any sub-ground levels. If it has been demolished the area to be

established is that of the underlying land.

I have been informed by ................................ of ...................................................

.......................................... that he / she intends to transfer the property described

below and that he / she had acquired the property by means of more than one

acquisition. I have therefore been requested to make a report for the purposes of

Rule 11 of the Tax on Property Transfers Rules.

The property being transferred is (description of property)

The property being transferred was acquired by means of acquisitions of different

items of property as described below. I have made the necessary inspections and

verifications and I am now in a position to report as follows

1 Description of property acquired

Date of acquisition

Area of this item of property (see

notes)

Remarks

2 Description of property acquired

Date of acquisition

Area of this item of property (see

notes)

Remarks

3 Description of property acquired

Date of acquisition

Area of this item of property (see

notes)

TAX ON PROPERTY TRANSFERS

Remarks

4 Description of property acquired

Date of acquisition

Area of this item of property (see

notes)

Remarks

Total area of the properties described above

Fraction of total area represented by Item 1

each item

Item 2

Item 3

Item 4

Name of architect

Address

Signature

Date

TAX ON PROPERTY TRANSFERS

In these rules, unless the context otherwise requires -

"acquisition value" and "transfer value" mean the acquisition

value and the transfer value that are required to be determined for

the purposes of article 5A of the Act;

"Act" means the Income Tax Act;

"project" and "property" have the meaning assigned to them in

article 5A of the Act;

"market value", in relation to any property, means the average

"notice of the transfer" means the notice in respect of a transfer

of property that is required to be delivered to the Commissioner in

accordance with rule 22(9).

Rule 24(2)

INCOME TAX ACT

(CAP. 123)

NOTICE (WORD PROCESSED) TO BE FILED ON A PROMISE OF AN

ASSIGNMENT OF RIGHTS ACQUIRED UNDER A PROMISE OF TRANSFER

(KONVENJU) OF IMMOVABLE PROPERTY SITUATED IN MALTA FOR THE

PURPOSES OF THE PROPERTY TRANSFERS RULES

FORM TPT 7

Assignor’s particulars

Name

Address

Telephone number

ID or passport number

Assignee’s particulars

Name

Address

Telephone number

ID or passport number

Information about the assignment

Date of promise of assignment

Validity period of the promise

Consideration for the assignment

Date of the relative promise of

transfer of property (konvenju)

Signatures of the parties

Signature of the assignor

Date

Name and address of witness (who

must be an advocate or a notary)

Signature of witness

Signature of assignee

Date

Name and address of witness (who

must be an advocate or a notary)

Signature of witness

For official use

Date received by the Commissioner

TAX ON PROPERTY TRANSFERS

(1) In determining the amount on which tax is payable in

terms of article 5A of the Act, there shall be allowed as a deduction

from the transfer value brokerage fees, if any, paid by the transferor

in connection with the transfer in question.

(2) Brokerage fees shall not be allowable as a deduction

unless -

(a) the transferor produces to the notary a signed receipt

that shows the date of the payment, the name, a legally

valid identification document number and address of

the broker and the amount of brokerage fees paid;

(b) the notary records in the deed of the transfer the fees

paid and the name and particulars of the broker; and

(c) the notary produces a certified copy of the said receipt

to the Commissioner together with the notice of the

transfer.

(3) When brokerage fees are paid in respect of more than one

transfer the deduction in respect of each transfer shall be such

proportion of the total deduction as is equal to the proportion which

the value of the respective transfer bears to the total transfer value

of those transfers.

Substituted by

L.N. 409 of 2007.

Amended by

L.N. 68 of 2017.

Rule 7(10)

INCOME TAX ACT

(CAP. 123)

TAX ON PROPERTY TRANSFERS RULES

Notice to be given by the Registrar of Courts of the redemption of ground rent made

by means of a schedule of redemption and remittance of the tax due on the

redemption

A copy of the schedule of redemption is to be attached to this notice

Particulars of the person in whose name the redemption is made

Name

Address

Other particulars shown on the

schedule of redemption

Particulars of the person/s against whom the schedule of redemption is filed

1 Name

Address

Other particulars shown in the

schedule of redemption

2 Name

Address

Other particulars shown in the

schedule of redemption

3 Name

Address

Other particulars shown in the

schedule of redemption

Description of the property in question as given in the schedule of redemption

Date when the schedule of redemption

was filed

Amount deposited

Euro

Amount remitted with this Notice

Euro

(10% of the amount deposited)

TAX ON PROPERTY TRANSFERS

Signature of the Registrar of Courts

Date

For official use

Date of delivery of notice: ...............................

Amount paid: € ............................

P.S. Number

Bank draft /cheque

Bank

No

Date

Receiving officer

(1) The acquisition value of property acquired causa

mortis before the 25th November, 2003 shall be the value declared

in the relative deed of the transfer causa mortis, as adjusted by any

deed of adjustment, if notice of the said deed of transfer causa

mortis and, where applicable, of the said deed of adjustment, have

been given to the Commissioner, f or the pu rpo se o f and in

accordance with the provisions of the Duty on Documents and

Transfers Act, not later than the 30th June, 2005.

(2) The acquisition value of property acquired causa mortis on

or after the 25th November, 2003 shall be the value declared for the

purpose of and in accordance with the provisions of the Duty on

Documents and Transfers Act if the deed of the transfer causa

mortis was made within six months from the relative succession or

donation and if notice thereof was given to the Commissioner in

accordance with that Act by not later than either fifteen working

days after the date of the publication of the deed or the expiration

of the said period of six months, whichever is the later.

(3) In cases not covered by the foregoing provisions of this

rule, the acquisition value of property acquired causa mortis or by

donation shall be its market value at the time of the acquisition.

(4) Notwithstanding the foregoing provisions of this rule,

where the value of property acquired causa mortis or by donation

was the subject of an assessment made under the Duty on

Documents and Transfers Act and, before the date of the transfer in

question, that assessment has -

(a) become final and conclusive, or

(b) has been confirmed or amended by a final decision of

an appellate tribunal or court, or

(c) has been withdrawn following an agreement in writing

with the Commissioner,

the acquisition value of that property shall be the value determined

in the said final and conclusive assessment, decision or agreement.

Rule 7(10)

INCOME TAX ACT

(CAP. 123)

TAX ON PROPERTY TRANSFERS RULES

Notice to be given by the Registrar of Courts of the withdrawal of money deposited

for the redemption of ground rent

Particulars of the person who made the withdrawal

Name

Address

I.D. number

Particulars of the withdrawal

Name of the person who had made the

deposit

Date of the deposit

Amount deducted from the deposit and

remitted to the Commissioner

Date when the remittance was made

Date of the withdrawal

Signature of the Registrar of Courts

Date

(1) In a partition of property, an owelty shall be deemed to

be due to a partitioner if and to the extent that the value of that

partitioner’s share of the total assets that are partitioned is higher

than the value of the partitioned assets that are assigned to him.

(2) The value of the transfer that is deemed to be made by a

partitioner to whom an owelty is due shall be the lower of the

following two amounts

(a) the owelty deemed to be due to that partitioner as

provided in sub-rule (1); and

(b) the excess, if any, as at the time of the partition, of the

value of that partitioner’s share of the property over

the value of the property assigned to him.

(3) The acquisition value of property transferred in the

circumstances referred to in sub-rule (1) shall be a proportion of the

transfer value and shall be determined according to the following

formula

TV x VP1 / VP2

where

TV means the transfer value determined in accordance with sub-

rule (2);

VP1 means the original value of the partitioned property;

VP2 means the value of the partitioned property as at the date of

the partition.

(4) When a person transfers property that was assigned to him

on a partition, the acquisition value of that property shall be an

amount equal to the lower of -

(a) the original value of that particular property; and

(b) the original value of that person’s undivided share of

the partitioned property.

(5) For the purpose of sub-rule (4), where the property

transferred by a person is only a part of the property that had been

assigned to him on the partition, the original value of that person’s

undivided share of the partitioned property shall be deemed to be

such proportion of the total original value of his undivided share of

the property that was partitioned as is equal to the proportion which

the original value of the property that is transferred bears to the

total original value of all the property that were assigned to that

person.

(6) In this rule, "the original acquisition" means the acquisition

by means of which the partitioners had acquired their undivided

shares of the partitioned property and "the original value" means

the value as on the date of the original acquisition.

In any transfer of property to the Government of Malta, the

transfer value shall be deemed to be equal to the consideration paid

or payable for that transfer.

(1) The transfer value of an emphyteutical concession

and of a concession of any other right over property shall be the

higher of (i) the premium or any other capital sum payable for the

concession and (ii) the sum determined as follows

(a) in the case of a concession of perpetual emphyteusis,

the market value that the property in question would

have if it was not subject to emphyteusis reduced by a

sum equal to twenty times the annual ground rent,

disregarding any adjustments to which the said ground

may be subject to in terms of the relative deed;

(b) in any other case, the premium or any other capital sum

that would be payable if the concession were granted on

the open market, after taking into account the ground rent

or other periodical payment and all the other terms of the

actual concession.

(2) In determining the acquisition value for the purpose of

article 5A(5)(b) of the Act, a concession of perpetual emphyteusis

or of emphyteusis for a period of more than fifty years shall be

treated as if it were a transfer of the property over which the

emphyteusis is granted.

(3) For the purposes of article 5A of the Act, the acquisition

value of an emphyteutical concession for a period that does not

exceed fifty years and the acquisition value of a concession of any

other right over property shall be deemed to be zero.

(4) When ground rent is redeemed in full or in part, the transfer

value shall be the consideration payable for the redemption.

(5) When ground rent is redeemed and, at the time immediately

preceding the redemption, the owner of the directum dominium is

not the person who had made the emphyteutical concession in

question, the acquisition value of the right transferred on the

redemption shall be the acquisition value of the directum dominium

determined in accordance with rule 4: provided that where the

ground rent is redeemed in part, the said acquisition value shall be

reduced proportionately.

(6) For the purposes of article 5A of the Act, and except as

provided in sub-rule (5), the cost of acquisition of property in the

case where there is a redemption of the ground rent or of any other

right over that property shall be deemed to be zero.

(6A) When a person who had acquired property under a title of

perpetual emphyteusis or an emphyteusis that had been granted for

a period exceeding fifty years ("the original acquisition") acquires

also the directum dominium perpetuum ("the second acquisition"),

and he subsequently transfers that property, the date of the second

acquisition shall be disregarded and that person shall be deemed to

have acquired the transferred property on the date of the original

acquisition.

(6B) When a person who had acquired property under a title of

emphyteusis that had been granted for a period of fifty years or less

("the original acquisition") acquires also the directum dominium for

the remaining period as well as the full ownership ("the second

acquisition"), and he subsequently transfers that property, the date

of the original acquisition shall be disregarded and that person shall

be deemed to have acquired the transferred property on the date of

the second acquisition.

(7) When ground rent is redeemed by means of a schedule of

redemption, the Registrar of Courts shall deduct from the deposit

an amount equivalent to 10% of the sum payable for the

redemption, and shall remit that amount to the Commissioner. The

Commissioner shall keep the amount so remitted in a suspense

account until the final payment of the tax is made in accordance

with sub-rule (8) or (9).

(8) Subject to sub-rule (9), when a person withdraws money

deposited in court for the redemption of the ground rent, he may

make a declaration to the Commissioner of the tax due on the

redemption in accordance with article 5A of the Act and these rules

on such form and in such manner as the Commissioner may accept.

Upon the receipt of any such declaration, and after making any

ascertainment that he may consider necessary, the Commissioner

shall withdraw from the suspense account referred to in sub-rule (7)

an amount equivalent to the tax due on the said redemption in

settlement of that tax. Any balance in the suspense account shall be

remitted to the person who makes the declaration upon proof being

submitted that he was the person entitled to make the withdrawal.

(9) If a declaration as is referred to in sub-rule (8) is not made

within thirty days from the date of the withdrawal, the amount

remitted in accordance with sub-rule (7) shall be deemed to

represent the final tax due on the redemption and the Commissioner

may withdraw that amount from the suspense account in settlement

of that tax.

(10) The Registrar of Courts shall make the remittance as

required by sub-rule (7) together with a notice on the form

prescribed in Schedule H within fifteen working days from the date

when the schedule of redemption is filed. The Registrar of Courts

shall attach a copy of the schedule of redemption to the notice. The

Registrar of Courts shall, moreover, notify the Commissioner of

any withdrawal referred to in sub-rule (8) by means of the delivery

of the form prescribed in Schedule I within fifteen working days

from the date of the withdrawal.

(11) The Commissioner and the Registrar of Courts shall be

indemnified against any person whatsoever for any amount

deducted, remitted, withdrawn or received in accordance with this

rule.

(12) The provisions of this rule in respect of an emphyteutical

grant and the redemption of ground rent shall apply mutatis

mutandis to a concession of sub-emphyteusis and the redemption of

sub-ground rent.

(13) This rule shall be without prejudice to the tax chargeable

under article 4 of the Act on any ground rent or other income

arising pursuant to any concession of a right over property.

(14) Notwithstanding the provisions of articles 5(5)(g) and

5A(4)(i) of the Act, an assignment of property on emphyteusis for a

period of fifty years or less shall not be exempt from the tax

chargeable under article 5A of the Act.

(1) When more than one item of property is transferred on

the same deed the parties shall declare a separate transfer value for

each item.

(2) When the acquisition value of an item of property that is

allowable as a deduction in terms of article 5A(5)(b) of the Act and

any other deductions that may be allowable in terms of these rules

in respect of that item, exceed the transfer value of that item, the

excess shall not be set off against the transfer value of any other

item of property or otherwise allowed as a deduction for any

purpose of the Income Tax Acts.

When a person transfers property which he had acquired by

means of separate acquisitions and any of those acquisitions was an

acquisition of an undivided share of the property transferred, that

undivided part shall be deemed to be transferred separately, and its

transfer value shall be a proportionate part of the whole transfer

value.

When a person transfers undeveloped land which he had

acquired by means of acquisitions of separate parts, and the area of

any of those parts is defined in the deed of transfer, that part shall

be deemed to be transferred separately and its transfer value shall

be such proportion of the whole transfer value as is equivalent to

the proportion which the area of that part bears to the whole area of

the property that is transferred.

(1) When a person transfers property which he had

acquired by means of separate acquisitions and the transfer value

that is to be allocated to each part cannot be determined in

accordance with rules 9 and 10, he may produce to the notary

receiving the deed a report drawn up by an architect as provided in

sub-rule (2).

(2) The architect’s report shall state the area of each part and

the proportions of the transfer value to be allocated to each part as

provided in sub-rule (4).

(3) For the purpose of sub-rule (2), when the part of the

property in question consisted, at the time of the acquisition, of a

construction of more than one level, and it has not been

demolished, its area shall be the sum total of the surface area of

each level. In other cases, the area shall be the surface area of the

underlying land.

(4) In the circumstances referred to in this rule, each part of the

property shall be deemed to be transferred separately and the value

of each deemed separate transfer shall be such proportion of the

whole transfer value as is equivalent to the proportion which the

area of each part bears to the total area of all the parts.

When a person transfers property which he had acquired by

means of separate acquisitions and the transfer value of property is

no t apportion ed in accordance with rules 9, 10 an d 11, the

following provisions shall apply

(a) any acquisitions causa mortis shall be deemed to be

acquisitions causa mortis that took place after the 24th

November 1992: provided that this paragraph shall not

apply if all the acquisitions were acquisitions causa

mortis that took place on or before that date;

(b) any onerous acquisitions inter vivos shall be deemed to

have taken place before 1 January 2004: provided that

this paragraph shall not apply if all the acquisitions were

onerous acquisitions inter vivos that took place on or

after 1 January 2004.

When a person acquires property and he subsequently

transfers an undivided part of that property, the acquisition value of

that part shall be a proportionate part of the acquisition value of the

whole property.

When a person acquires undeveloped land and he

subsequently transfers -

(a) a divided part of that land, or

(b) property developed over a divided part of that land,

consisting of the whole development over that part as

well as the underlying land and the airspace,

and the areas of that part and of the whole land are defined in the

deed, the acquisit ion v al ue shall b e su ch pro port ion o f t he

acquisition value of the land that was acquired as is equal to the

proportion which the area of the part that is transferred bears to the

whole area of the land that was acquired.

(1) When a person acquires property and he subsequently

transfers part of that property, and the acquisition value of that part

cannot be determined in accordance with rules 13 and 14, he may

make a calculation of the apportionment of the acquisition value in

accordance with this rule.

(2) The calculation referred to in sub-rule (1) shall show the

area of the whole property and the surface area of the part that is

being transferred. The area of the whole property shall be the sum

total of the surface area of each of the levels comprised therein or,

in the case of property that is under construction or that has yet to

be constructed, of each of the levels comprised in the latest plans of

the project. For the purpose of this rule -

(a) the airspace shall be deemed to constitute a separate

level;

(b) the area of the common parts shall be apportioned to

the respective units;

(c) there shall be excluded from the area of a unit any part

over which the transferor retains rights of ownership.

(3) In the circumstances mentioned in this rule, the acquisition

value shall be such proportion of the acquisition value of the

property that was acquired as is equal to the proportion which the

area of the property transferred bears to the area of the property

that was acquired.

(4) The provisions of this rule shall be applied in a manner that

ensures that the total of the acquisition values of the various parts

of an item of property shall never exceed the acquisition value of

that item.

No value shall be deemed to represent the acquisition value

of part of a property unless it is determined in the manner provided

in rules 13, 14 and 15 or in such other manner as may be approved

in writing by the Commissioner.

(1) Rules 9 to 16 shall be without prejudice to the

provisions relating to the determination of the transfer value and of

the acquisition value in the case of transfers mentioned in rule 5.

(2) The provisions of these rules relating to the determination

of the acquisition value of property shall be applicable to the extent

that they are relevant for the purpose of article 5A(5)(b) of the Act.

In any appeal relating to an order made under article

5A(10) of the Act, an architect’s estimate that has been confirmed

on oath shall be admissible as evidence of the market value of

property. When different estimates are produced in proceedings in

the Administrative Review Tribunal, the Tribunal shall, unless the

parties otherwise agree, appoint another architect to report on the

value after examining the estimates that have been produced and

inspecting the property, and the Tribunal shall decide the matter

after taking into account the said report and any other consideration

that it may consider appropriate.

When an order is made under article 5A(12) of the Act and

the payment of the tax and additional tax as provided in this rule is

made within the time from the date of the order as stated in the first

column hereunder, the additional tax chargeable shall be reduced to

the percentage amount corresponding thereto in the second column

hereunder, and no further tax, additional tax or interest shall be

chargeable with respect to the amount of tax and corresponding

additional tax so paid, and no objection shall be entertained with

respect thereto

First Column

Second Column

within 90 days

within 120 days

within 150 days

within 180 days

within 210 days

within 240 days

within 270 days

within 300 days

within 330 days

after 330 days

100.

(1) Every person who carries on a trade, business,

profession or vocation and who owns property shall keep such

records and documents relating to the acquisition, development and

transfer thereof as are necessary for ascertaining the tax chargeable

on the transfer of that property or part thereof.

(2) Without prejudice to the generality of the sub-rule (1), the

records shall show an account of the costs and turnover related to

any project and shall include

(a) a general account of the project;

(b) an account in respect of each transferable unit within

the project.

(3) The account in respect of a transferable unit within a

project shall include

(a) the consideration for the transfer of that unit;

(b) the transfer value of that

unit

determined

in

accordance with these rules;

(c) the acquisition value of that unit determined in

accordance with these rules;

(d) the development, administrative and other costs

related directly to the development of that unit;

(e) a portion of the costs referred to in paragraph (d) to the

extent that they cannot be allocated specifically to that

transferable unit. Except when the Commissioner

otherwise directs in writing, this portion shall be such

proportion of the said costs as is equal to the

proportion which the area of that unit bears to the total

area of the project.

(4) In calculating the area of a transferable unit and of a project

for the purpose of sub-rule (3)(e) the following provisions shall

apply

(a) the area of each unit shall be the sum total of the

surface area of each level comprised in that unit;

(b) the area of the project shall be the sum total of the

areas of each transferable unit within that project, as

well as the common parts and all parts over which the

owner retains or intends to retain rights of ownership;

(c) the areas referred to in this sub-rule shall correspond

to the areas resulting from the latest plans in respect of

the project.

(5) Without prejudice to the generality of sub-rule (1), the

documents required to be kept by this rule shall include

(a) copies of the deeds of acquisition and deeds of transfer

of the property in question;

(b) the plans in respect of the project, including the plans

and any alterations as approved by the competent

authorities and all plans and drawings on the basis of

which any works have been or are planned to be

carried out and by reference to which any part of the

project is or is planned to be transferred;

(c) copies of all applications and permits filed with or

obtained from the competent authorities in connection

with the property;

(d) fiscal receipts or tax invoices of all costs that comply

with all the relevant provisions of the Value Added Tax

Act.

(6) The records and documents that are required to be kept in

accordance with this rule shall be kept in addition to the records

and documents required in terms of any other provision under the

Income Tax Acts.

(7) In this rule, "a transferable unit" means any unit that is

included in the plans referred to in sub-rule (5)(b) as a separate

transferable unit: provided that the airspace shall, unless it is

specifically transferable as part of a unit, be deemed to represent a

separate unit.

(1) Except as is otherwise provided in the Act or in other

rules under the Act, when the tax chargeable in respect of a transfer

of property is determined by reference to the profits derived from

that transfer, these rules shall apply for the purpose of determining

the respective chargeable income.

(2)

Subject to sub-rule (4), when the tax in respect of a

transfer of property is chargeable under article 5A of the Act, the

profits that a company is required to allocate to the final tax

account shall be equal to the consideration for that transfer after

deducting

(a) the acquisition value and brokerage fees, if any,

determined in accordance with these rules;

(b) the development, administrative and other costs

determined in accordance with rule 20; and

(c) the tax chargeable on the property transfer in terms of

article 5A of the Act.

(3) Subject to sub-rule (4), in the case of a transfer of property

which gives rise to profits on which tax is chargeable in terms of

article 27G of the Act, the amount that a company is required to

allocate to the final tax account shall be equal to the profit on that

transfer as determined in accordance with sub-article (2) of the said

article after deducting the tax chargeable on that profit.

(4) The amount to be allocated to the final tax account in terms

of sub-rules (2) or (3) shall in no case be less than zero.

(1) An architect’s report for the purposes of rule 11 shall

be drawn up on the form prescribed in Schedule E.

(2) The notary publishing a deed of transfer of property shall

give notice thereof by means of the delivery to the Commissioner

of the form prescribed in the First Schedule to the Duty on

Documents and Transfers Act by not later than fifteen working

days from the date of the transfer together with the payment due in

terms of article 5A of the Act, as well any other payment of tax that

may be payable on the deed in connection with that transfer under

the Income Tax Acts and the Duty on Documents and Transfers

Act. The notary shall deliver the said form in triplicate to the

Commissioner (Capital Duty Branch). The Commissioner shall

stamp one copy and deliver it to the notary in acknowledgement of

the receipt of the form and of the payment accompanying it. The

notary shall annex the stamped copy to the relative deed of transfer.

(3) Without prejudice to the generality of the provisions of

article 5A(12)(a) of the Act, the facts that the parties to a transfer

are obliged to declare to the notary publishing the deed of transfer

in terms of that article shall include all the information that the

notary is required to provide on the form referred to in sub-rule (2).

When the parties to a deed of transfer of property correct or

otherwise change that deed by means of a subsequent deed, and the

tax payable under article 5A of the Act in respect of that transfer as

corrected or changed is higher than the amount stated to be payable

under the original deed, the correction or change shall be deemed to

constitute a transfer of property and the provisions of article 5A of

the Act and of these rules including, without limitation, the

provisions relating to the payment of the tax and the notice of the

transfer, shall apply to that deed accordingly: provided that the tax

payable under article 5A of the Act on that correction or change

shall be the balance remaining from the full amount payable in

respect of the deed of the transfer as corrected or changed after

deducting the amount already paid in connection with the original

deed.

An agreement purporting to be a promise of an assignment

of a right acquired under a promise of sale (konvenju) shall not be

valid for the purposes of any law unless it satisfies all the following

conditions

(a) it is done in writing and signed by the parties thereto;

(b) the signatures of the parties are witnessed by a notary

or an advocate;

(c) it states the consideration for the assignment;

(d) a word-processed copy thereof is delivered by the

notary or advocate who witnessed the signatures of the

parties to the Commissioner in the form prescribed in

Schedule G within thirty days from the date on which

it is concluded.

The provisions of rule 10 of the Capital Gains Rules

(Transfer of property by persons about to leave Malta) shall apply

to transfers of property to which article 5A of the Act applies.

TAX ON PROPERTY TRANSFERS

Schedules A, B, C, D and F have been deleted by Legal Notice 68 of 2017.