What is the date of sale if the transaction is carried out in stages?

When corporate stock or shares in business premises are sold and bought, the transfer agreement is often made in stages.

1. First, the parties sign an initial agreement known as the Share Purchase Agreement. Then they agree on the conditions that must be met before the parties are obliged to conclude the deal. The parties also typically agree that they will draft the final transfer agreement after the conditions are fulfilled.
2. The parties sign the final transfer agreement, i.e. the Closing Memorandum. 

If the initial agreement is a preliminary agreement, then the due date of the transfer tax return and tax payment is determined based on the final transfer agreement. Enter the signing date of the final transfer agreement as the date of sale.

Note: The rate of transfer tax is also determined by the date on which the binding transfer agreement is signed. If the agreement is signed on 1 January 2024 or later, the tax is 1.5%. If the contract was signed before this, the tax is 1.6%.

If the final transfer agreement contains a suspensive or resolutory condition, it has no effect on the due date of the transfer tax return and tax payment. The due date is counted from the date on which the transfer agreement is signed.