Tax & VAT News
Tax & VAT News
Latest news relating to Tax and VAT in Malta. Click below and contact us if you need any additional information.
At the end of last year, the Office of the Commissioner for Revenue (CfR) issued a notice whereby taxpayers were reminded of the obligation to file intrastat declarations in line with Subsidiary Legislation 406.08 and also requesting subject persons to file all pending intrastat declarations.
Micro Invest Tax Credits for Self-Employed Individuals 2022
Individuals carrying on business on a self-employed basis are invited to apply for a tax credit calculated at a percentage of the investments carried out in 2021.
Micro Invest Tax credits 2022 for companies
Companies are invited to apply for a tax credit calculated at a percentage of the cost of investments carried out in 2021.
Recent changes to the Income Tax Act, Income Tax Management Act and other fiscal measures
We prepared a list of the recent changes to the Income Tax Act, Income Tax Management Act, and other fiscal measures.
Amendments to the Companies Act
On the 26 October 2021, Act LX of 2021 was enacted, officially introducing certain amendments to the Companies Act, Chapter 386 of the Laws of Malta (the “Act”).
Tax rebate on private residential leases - Amalgamation with TA24
Persons who derive income from a private residential lease which is registered with the Housing Authority as a long lease, are eligible for a tax rebate against the tax chargeable on such rental income.
The Highly Qualified Persons Rules update
In terms of a new legal notice published on 29 January 2021, the Highly Qualified Persons Rules have been updated and extended accordingly.
Deadline for applying for Fiscal Unity extended
The Commissioner for Revenue has extended the deadline for applying for fiscal unity in respect of the Year of Assessment 2020 from 31 August 2020 to 30 September 2020.
The VAT treatment of secondment of staff
On the 11 March 2020, the European Court of Justice (ECJ) issued its judgement in C-94/19 (Italian Tax Authorities v. San Domenico Vetraria S.p.a.) in relation to the VAT treatment of secondment of staff provided by a parent company to its subsidiary.
Qualifying Employment in Aviation (Personal Tax) (Amendment) Rules
On 2 April 2020, a legal notice was published whereby the Qualifying Employment in Aviation Personal Tax Rules were amended. These updates are applicable with effect from 1 January 2020.