Stamp Duty exemption

Is your company subject to a stamp duty exemption issued by the Commissioner for Revenue in terms of Article 47 of the Duty on Documents and Transfers Act (DDT10 exemption)?

Apart from granting a stamp duty exemption, the DDT10 exemption extends the tax payment deadline from 9 to 18 months after the financial year-end.

In terms of a recent amendment to the Act, such exemption may no longer be valid as from the 1st of December 2019

The DDT10 exemption will only be re-awarded to the company if a new application is submitted, and if a company satisfies the following conditions:

a)       The company carries more than 90% of the business interests outside of Malta;

b)      The company’s turnover is not derived from any activities carried on with customers/clients who are resident in Malta;

c)       The company’s turnover is not derived from activities carried on directly or indirectly with non-resident customers / clients who operate in Malta through a branch situated in Malta;

d)      The company’s turnover is not derived from any retail, catering, on-land entertainment, manufacturing and other related productive activities, transport, agricultural or fishing activities which are carried on in Malta; and

e)      The company’s turnover is not derived from immovable property situated in Malta

Should you need further information, kindly get in touch with us and we will be able to assist accordingly.