Shares based on time-sharing, shares in a golf-course company

File the return

File the transfer tax return in 2 months from signing the contract. If a realtor assists you with the buying of the time-share, it is the realtor’s responsibility to file the transfer tax return for you when the contract is signed. If you bought a time-share in a “newly constructed property” as defined by law, you must file the tax return and pay transfer tax on your purchase in 2 months from the date when ownership was transferred to you even if a realtor assists you. 

• If you buy together with a co-buyer – typically your spouse – both of you must submit a transfer tax return.
• To complete the return, you should have the purchase and sale agreement or other contract on hand. 
• However, you generally do not have to add very many enclosures. In MyTax, a window will appear that tells you whether an additional enclosure must be attached or whether it is enough if you just complete the tax return.

File in MyTax

How to file a transfer tax return in MyTax

The paper-printed form can be used by individual taxpayers, general partnerships and limited partnerships. If the paper form is filed, you must enclose a photocopy of the contract.

Pay the tax

Pay the tax in 2 months from signing the contract (or if the property is treated as “new construction”, 2 months from the date when the right of ownership is transferred to you). If a realtor assists you when you buy the shares, you must pay the tax when you sign the contract. 

• If you use MyTax to send the payment, reference numbers and other bank details are automatically transferred to the template for processing by your e-banking service. MyTax calculates the amount of transfer tax.
• If you pay via your personal e-bank instead, you need the bank account number for the Tax Administration and the bank reference number for transfer tax. To get the bank account and reference numbers, you can:
  • Check them in MyTax: Click the Your tax types tab on the home page. Go to Payment status and click Paying taxes and payment details.
  • Call the service telephone number +35829 497 026 (Payment transactions, limited service available in English, standard call rates)

The amount of tax to pay must have 2 decimal points. After you have made the necessary calculations to arrive at the right tax, round it out to the nearest cent as usual. Example: your calculation result is €345.67890.  You must round out the result in order to pay €345.68 as your tax. 

If there is more than one buyer – two spouses, for example – each must pay their own share of the transfer tax on a separate bank transfer and enter their personal reference numbers. The amount will be displayed as a paid tax in MyTax on the following business day or the day after that.

Buyers in foreign countries – requesting a bank reference number

You receive a certificate of transfer tax

You will receive a certificate on filed and paid transfer tax in MyTax or by post. Normally, after you have filed and paid, the certificate will appear in MyTax in 2 days. Finding the certificate in MyTax. If you file your return on paper, wait for the certificate of transfer tax to become available in MyTax a little later.

If a realtor assists you when you buy the shares, you get the certificate proving the payment of the transfer tax from the realtor (the estate agent’s office). MyTax does not contain the certificate if the realtor issued it.