The change of rules applicable to the payment of the real property acquisition tax has not yet been approved

An amendment to the Senate statutory provision amending the real property acquisition tax, which provides in particular for the transfer of the obligation to pay the tax from the transferor to the transferee, will not come into effect as was originally intended on April 1 2016. The amendment is still going through its second reading at the Assembly of Deputies and it is unlikely to make it to the floor in March. The date the amendment is likely to come into force and the effects thereof cannot at present be forecast. We will keep monitoring further development of the amendment’s legislative progress.