On 18/11/2022 the Central Agency for Equal Distribution of Burdens (Creation, Objects, Responsibilities, and Other Related Matters), was amended offering important clarifications as to the conditions under which the contribution is collected.

According to this latest amendment, the authority responsible for the collection of the contribution of 0,4% is the Tax Commissioner, who issues a relevant payment certificate upon the transfer of immovable property or the transfer of shares. The contribution of 0,4% is imposed on the sale of immovable property located in the areas controlled by the Republic and on the sale of shares in a company that owns such immovable property, provided that the buyer takes control of the company.

The following immovable property transactions are exempted from the said contribution:
(a) loan restructurings and company re-organisations;
(b) where the sale agreement for the immovable property was filed with the Department of the Lands and Surveys or the notification on the transfer of shares of a company owning that immovable property was filed with the Registrar of Companies before the 22/02/2021 (representing the effective date of the Central Agency of Equal Burden Distribution Law of 2021).