Budget 2020 Highlights

These are some of the main fiscal measures announced by the Minister for Finance in the Budget Speech for 2020: Income Tax A reduced rate of tax of 15% on the first 100 hours of employee overtime, for employees with a basic salary of under €20,000. ...

CFE Tax Top 5 – 3 September 2019

This week's edition of the CFE Tax Top 5 looks at the following: OECD Officials' 'Back to School' In-Tray: Digital Tax - New Proposals due 17 October Brussels: Vestager on Digital Tax, EU's Carbon Tax Commitments and EU Parliament hearings CFE Tax Advisers Europe sets...

CFE Tax Top 5 – 26 August 2019

This week's edition of the CFE Tax Top 5 looks at the following: Discussions on Digital Tax and Tariffs at G7 meeting Draft DAC 6 implementing legislation published in multiple Member States Reminder: 12th European Conference on Tax Adviser's Professional Affairs on AML Directives UK...

MIT Report – CFC rules under ATAD

On 18 February 2019, the MIT hosted Prof Alexander Rust from the Vienna University of Economics and Business, who led a Master Class on Controlled foreign company rules under the Anti-Tax Avoidance Directive: interaction with EU fundamental freedoms and the potential effects on tax planning. A report...

Updated International Taxation payment details

The International Tax Unit has updated its bank account details for accounts held with the Central Bank of Malta. The CfR update and the current list can be found at this link.  ...

Amendment to HQP and Qualifying Employment (personal tax) rules

LN 209 of 2019 amends the following legislation: The Highly Qualified Persons Rules; The Qualifying Employment in Aviation (Personal Tax) Rules; and The Qualifying Employment in Maritime Activities and the Servicing of Offshore Oil and Gas Industry Activities (Personal Tax) Rules. As a result of the amendment,...

Patent Box Regime rules published

The Patent Box Regime (Deduction) Rules, 2019 were published in virtue of LN 208 of 2019. They apply to qualifying income derived from qualifying intellectual property ("qualifying IP") on or after 1 January 2019. The rules set out the conditions which must subsist for the application of the deduction permitted...

Mutual Agreement Procedure – revised guidelines

The MAP Guidelines published on the website of the Office of the Commissioner for Revenue have been revised. Specifically, the text under the heading: “Suspension of Collection of Tax During a MAP” has been replaced to reflect the amendment to article 41 of the Income...

Amendment to the Tax Accounts (Income Tax) Rules

The Tax Accounts (Income Tax) Rules have been amended through LN 194 of 2019, published on 6 August 2019. As a result of the amendment: Profits derived through the application of the participation exemption in terms of Article 12(1)(u) of the Income Tax Act (ITA) are...