This Tuesday, the President of the Republic signed into law the government's decree exempting young people up to the age of 35 from paying Municipal Property Transfer Tax (IMT) and Stamp Duty (IS) on the purchase of their first permanent home.
"The President of the Republic has promulgated the law which, using the legislative authorisation granted by Law 30-A/2024 of 20 June, exempts the purchase of permanent housing by young people up to the age of 35 from Municipal Property Transfer Tax and Stamp Duty, by amending the Municipal Property Transfer Tax Code and the Stamp Duty Code," reads the note published on the Presidency's website.
This measure - which the government intends to come into force in August - covers house purchases where the value does not exceed 316,772 euros, i.e. the equivalent of the fourth IMT bracket. The measure also provides for a partial exemption for homes between 316,772 and 633,453 euros. To be eligible, young people must not have been considered dependent for IRS purposes in the year they bought the house.