Exemption from the obligation of payment of a levy on the sale price of immovable property and shares

According to amendment N. 1(I)/2024 of the Central Agency of Equal Distribution of Burdens (Establishment, Objects, Responsibilities and Other Related Matters) Law which was published in the First Appendix of the Official Gazette of the Republic dated January 26, 2024, no levy is imposed from February 22, 2021 in cases of transfer of real estate or company shares in the context of loan restructuring, on the amount of the sale price or the appraised value, as the case may be, which is used to reduce or pay off non-performing loans.

Persons for whom a levy debt has been created and fall under the above provisions of the legislation, are invited to submit a written objection. The deadline for submitting said objection is extended until June 30, 2024. The date of payment of the relevant levy, without the imposition of monetary charges and interest, is also extended to June 30, 2024.

Please feel free to contact our Team directly for more information or assistance you may need.