Malta-Poland Tax Treaty revised

The DoubleTaxation Relief on Taxes on Income with the Republic of Poland Order has been revised pursuant to LN 64 of 2021. The amendments shall enter into force on such date as may be announced by notice in the Gazette. ...

Various Revenue Acts Bill

Bill 199 published on 25 February 2021 proposes a series of amendments to the following legislation: Income Tax Act Income Tax Management Act Duty on Documents and Transfer Act Value Add Tax Act source: legislation.mt...

Fiscal Unit guidelines updated

The Guidelines in relation to the Consolidated Group (Income Tax) Rules have been updated. The revised guidelines can be accessed at this link   Source: cfr.gov.mt...

Capital allowances – car parks

A guidance note on capital allowances in respect of car parks has been published by the Office of the CfR. The note clarifies the definition of “industrial building or structure” in article 2 of the Income Tax Act and provides that once a car park falls...

Tax rebate on private residential leases

The Office of the CfR has announced that 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 rebate is applicable...

REQs 2021

The 2021 Risk Evaluation Questionnaires (“REQs”) will be available for completion by subject persons as from 1st March 2021 on the Compliance and Supervision Platform for Assessing Risk (CASPAR) System. The submission deadline for Tax Advisors is 21st April 2021. A copy of the revised 2021 REQs per...

Tax exemption threshold for voluntary organisations increased

Pursuant to LN 39 of 2021, the Enrolled Voluntary Organisations (Tax Exemption) Rules (SL 123.190) have been revised. In terms of the changes, which apply as of year of assessment 2022, the tax exemption in terms of Rule 3 applies to enrolled organisations whose turnover for...

Highly Qualified Persons rules amended

LN 29 of 2021 introduced changes to the HQP Rules [SL 123.126], namely: Allowing persons who apply to benefit under the HQP Rules to be eligible for two further extensions (instead of one, as previously applied) of 5 years (EEA and Swiss nationals) or 4...

DAC 6 Reporting Deadlines update

The Office of the CfR has announced an update to the upcoming reporting deadlines: Cross-border arrangements where the trigger point for reporting took place between 1 July 2020 and 31 December 2020 -  Monday 1 February 2021. Reportable cross-border arrangements the first step of which was...