Under the revised regulations, individuals who acquire a property to serve as their primary, personal, and effective residence can now individually apply for an allowance of up to €30,000, up from the previous €20,000. This allowance can be used as a tax credit, offsetting the registration and transcription duties.
This was confirmed by the Registration Duties, Estates and VAT Authority in a press release on Friday.
If eligible for an additional tax credit, purchasers who have notarial deeds signed on or after 7 March 2023 will receive a reimbursement with retroactive effect.
