Just a third of eligible individuals pay real estate transfer tax
FS, the tax authority, sent a letter to 12,900 individuals who did not pay a real estate transfer tax despite selling real estate after less than five years of ownership. FS estimated annual outage in this tax at €24m, and the letters should bring in €70m additional revenue. FS thinks just a third of eligible individuals have paid the tax in recent years. It believes sending a letter is a better option than outright legal action. It is willing to forgive late interest and provide a deferral or repayment schedule.