Exemptions in short-term financing

While it continues to apply to financing granted by venture companies to their subsidiaries, the exemption for short term financing aimed at covering treasury needs, also applies to financing granted by any other companies (irrespective of their holding statute) to the companies they control or in which they hold at least 10% of the share capital and voting rights, or whose purchase value is higher than EUR 5,000,000.00. This exemption also applies to loans granted to companies which are under a group or control relation.

The exemption however, is not applicable where any of the participating companies is resident of a listed tax heaven regime.

Annual Return

In addition to the obligation to annually report the assessed Stamp Duty, it is now also mandatory to report the value of Stamp Duty exempt transactions and acts, indicating the applicable item of the General Stamp Duty Scale (“GSDS”).

Properties with a EUR 1,000,000.00 or higher TVP

The annual 1% tax due on the ownership, usufruct or surface right over residential properties with a minimum TVP of EUR 1,000,000.00 now also applies to construction land for which a residential building is authorised or planned.