Tax & VAT News
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Tax & VAT News
Latest news relating to Tax and VAT in Malta. Click below and contact us if you need any additional information.
The EU Commission proposes new rules for VAT in the Digital Age
In its 2020 Action Plan for fair and simple taxation supporting the recovery, the EU Commission announced the legislative package ‘VAT rules for the digital age’, which was also included in the 2022 Commission work programme and adopted on the 8th December last year.
Minimum rate of taxation for multinational groups
The European Union has formally adopted the directive on the minimum rate of taxation which will be applicable to multinational groups, after Poland has granted its consent in a formal written procedure on 15 December 2022 and Hungary agreed to the support the proposal on 12 December 2022.
DAC7
NEW Seed Investment Scheme rules
The “new” Seed Investment Scheme (Income Tax) Rules, 2022 have been published on the 20 December 2022. By virtue of this, the “old” Seed investment scheme rules have been repealed.
Option to submit separate tax return
In terms of Article 49A of the Income Tax Act, a married couple has the option to submit a separate tax return. The office of the Commissioner for Revenue has recently published Guidelines in relation to this.
Micro Invest Tax credits 2023 for companies
Companies are invited to apply for a tax credit calculated at a percentage of the cost of investments carried out in 2022.
The issuance of Transfer Pricing Rules in Malta
On the 18th November 2022, Malta introduced Transfer Pricing Rules via legal notice 284 of 2022.
CfR notice: VAT and tax for e-commerce operators
Information Note published by the offices of the Commissioner for Revenue on the tax and VAT treatment of e-commerce operators.
Invest (Support for Initial Investment Projects) Programme
Earlier this year Malta Enterprise launched the Invest (Support for Initial Investment Projects) Programme. This measure aims to sustain the regional industrial and economic development of Malta.
COVID fiscal measure - Group Deductions
The inland revenue department has published on its website a guidance note in anticipation of the Group Deductions (Income Tax) Rules, 2022, which should be published shortly.