The long discussed amendment to Senate ordinance no. 340/2013 Coll., on real estate excise tax will come into effect on November 1 this year. Its main purpose is to change the payer of the real estate acquisition tax. This duty will now fall exclusively on the acquiring party, who will also need to file the associated tax return. Sellers and buyers will no longer have the option to decide which of them bears the tax. The other contractual party’s liability for the tax payment will also cease.
