| CODE | CVL5038 | ||||||||
| TITLE | Fiscal Legislation Associated with Immovables 2 | ||||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||||
| MQF LEVEL | 7 | ||||||||
| ECTS CREDITS | 5 | ||||||||
| DEPARTMENT | Civil Law | ||||||||
| DESCRIPTION | A detailed analysis is carried out in respect of: (i) The capacity to acquire immovable property in Malta, as regulated by the Immovable Property (Acquisition by non-Residents) Act; and (ii) The liability to property transfers tax or capital gains tax (in terms of the Income Tax Act) subsequent to alienations of immovables. Fiscal liability following the transfer of immovable property will be examined from the perspective of the transferor, through a detailed analysis of relevant provisions under the Income Tax Act. In additions, students will assess very specific rules on the capacity to acquire immovable property in Malta in terms of the Immovable Property (Acquisition by non-Residents) Act. The above will be analysed both in view of current legislation as well as from practical examples encountered during practice of the profession to offer students an insight in the applicability of the rules and legislation. Study-unit Aims: (i) To prepare future notaries and/or lawyers who will be working in the area of property legislation on the applicability of the relevant legislation; (ii) To instill in future notaries the knowledge to properly calculate the fiscal liability of alienors on a transfer of property or real rights; (iii) To make students conversant with the exemptions existing in the law, both in relation to Immovable Property (Acquisition by Non-Residents)Act as well as the relevant exemptions in the Income Tax Act; (iv) To familiarise students with the practicalities of the profession and the procedures to be followed in the application of the relevant legislation. Learning Outcomes: 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: - Identify the applicability of the Immovable Property (Acquisition by non-Residents) Act to particular cases of purchases of property and also to be knowledgeable with the applicability of the relevant legislation; - Analyse in depth the fiscal provisions on the basis of current related legislation as well as to analyse changes to the fiscal legislation over time and how this might apply in certain situations (transitory provisions). 2. Skills: By the end of the study-unit the student will be able to: - Advise clients in cases dealing with the purchase of property by residents/non-residents as defined in the Immovable Property (Acquisition by non-Residents); - Calculate the property transfers tax or capital gains tax applicable in the transfer of immovable property in Malta or the assignment of rights emanating from a promise of sale, and understanding the exemptions and attenuations applicable in particular cases. Main Text/s and any supplementary readings: Immovable Property (Acquisition by Non-Residents) Act, Chapter 246 of the Laws of Malta and the relevant subsidiary legislation Income Tax Act, Chapter 123 of the Laws of Malta (relevant provisions) and the related subsidiary legislation Income Tax Management Act, Chapter 372 of the Laws of Malta (relevant provisions) and the related subsidiary legislation |
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| ADDITIONAL NOTES | Pre-Requisite qualification: LL.B. Qualification Pre-Requisite Study-unit: Fiscal Legislation Associated with Immovables -1 |
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| STUDY-UNIT TYPE | Lecture, Seminar and Tutorial | ||||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Stefan Gauci |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years. |
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