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.
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.
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.
Micro Invest Tax credits 2021 for companies
Companies are invited to apply for a tax credit calculated at a percentage of the cost of investments carried out in 2020.
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.
The Companies Act Company Reconstruction Funds Regulations
The scope of these regulations is to create and regulate the administration of a fund intended to facilitate company recovery procedures instituted in accordance with article 329B (Company Recovery Procedure) of the Companies Act.
Amendments to Malta Tax Schemes
The Malta Retirement Programme (“MRP”), the Global Residence Programme (“GRP”), the Residence Programme (“TRP”) and the United Nations Pensions Programme ("UNPP") have been recently updated through the publication of LN 69 of 2020. Such updates are effective from 1 January 2020.
Electronic Filing Extension of Corporate Income Tax Returns for 2020
The Commissioner for Revenue has notified the public that the deadlines for the electronic filing of income tax returns for companies have been extended.