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...

Malta – Kosovo Double Tax Treaty

The convention signed between Malta and Kosovo for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was published by virtue of LN 168 of 2019. The Convention will enter into force with effect from such date as...

Notional Interest Deduction Guidelines updated

On 11 July 2019, the Office of the CfR published updated guidelines on the Notional Interest Deduction rule. The updated guidelines include a new paragraph ‘xi’ which, we understand, is applicable from YA2020: “(xi) Accounting Periods other than 12 Months To further approximate the neutrality between debt and...

EU Tax Dispute Resolution Mechanisms Regulations 2019

The European Union Tax Dispute Resolution Mechanisms Regulations, 2019 came into effect on 1 July 2019 (LN 159 of 2019 published on 12 July 2019). The rules, which implement the provisions of Council Directive (EU) 2017/1852, regulate the  mechanism for resolving disputes between Malta and other...

MIT Master Class delivered by OECD Head of ATP

On 14 June 2019, the MIT had the honour of hosting Mr. John Petersen, Head of Aggressive Tax Planning – OECD, who delivered the MIT Master Class on Transposing ATAD II Anti-hybrid Rules. Mr. Petersen is responsible for Working Party 11 which produced the BEPS Reports...