The new law changes the tax rules on the aquisition of property
Issued 01.11.2016
Today, the new Act
No. 254/2016 is being introduced, which amends the Statute of the Senate No.
340/2013 Coll., for the tax on the acquisition of property.
The tax is payable
by the buyer
With the
effect of the new law, the buyer, as
the acquirer of property, becomes the taxpayer of the acquisition of immovable
property (real estate transfer tax). From now on, it will not be possible for
the seller to pay the tax, as has been the case so far.
The new law
also closes the guarantor's institute, so the seller will not be responsible
for the buyer's payment of the acquisition tax. The buyer is now solely
responsible to pay it properly and in a timely manner.
This amendment
of the law means that in all cases the "transfer tax" of 4% of the
purchase price will be paid by the buyer, as is usual in most EU countries.
Please see the comments on the law on the Ministry
of Finance page.
