Take free initial advice! Call now (UK) 020 8123 5542


Type a keyword in the box to begin search



Take a FREE legal advice.

Don't hesitate, just send us you question and we will get you an answer.



Sofia BAR
Sofia BAR Association


Bookmark this page or subscribe to the site RSS feed

Bookmark:
Subscribe: AddThis Feed Button





What is transfer tax?
Last update: 2007-12-20 05:15:18

What is transfer tax?

“Transfer tax” - The sale of property is generally subject to transfer tax. Transfer tax is levied at a rate of 2% of the purchase price agreed between the parties or estimate according to the tax evaluation of the property, whichever is higher. Generally, the transferee has the legal obligation to pay the tax, unless the parties have agreed to share the tax. The tax should be paid on the day of execution of the notary deed. The payment is condition precedent for the registration of the transaction with the recordation office.

The following sales of real property are exempt from transfer tax:

  • the property is contributed to the share capital of a company by means of contribution inkind. In such a case the specific procedure provided for in the Bulgarian Commercial Act has to be observed and a notary deed should not be drafted
  • the property is transferred between two companies pursuant to a merger, a de-merger or a partial business transfer

read previous read next
«   »



Contact us and receive free initial legal advice


Contact Solicitor Bulgaria

Phone numbers:

Email: info@solicitorbulgaria.com
Web site: www.solicitorbulgaria.com


Office address:
Coutry: Bulgaria
City: Sofia
Street Address: Region Sredets, 7 Slaveikov Square, Entrance B, Floor 2, Ap. 19
Post Code: 1000
View Map