DAC 2 / CRS / FATCA reporting deadline extended

The Office of the CfR has announced that due to the continued exceptional circumstances brought about by the COVID-19 pandemic that have created a challenging environment, an extension for the submission of the report containing Financial Account information relating to Reporting Year 2020 has been...

YA2020 Returns for Fiscal Units

The office of the CfR has announced that the facility to upload and submit the income tax return and the supplemental document for Year of Assessment 2020 required to be filed by a principal taxpayer in respect of a fiscal unit is now available.​   source: cfr.gov.mt...

AEOI Implementing Guidelines

Version 4 of the Implementing Guidelines on the Automatic Exchange of Financial Account Information is available for download from the CfR website. A guideline in relation to a change of reporting deadline for reporting year 2020 has also been published.    ...

Transfer Pricing – enabling provision

The Budget Measures Implementation Act has introduced an enabling provision in the Income Tax Act which empowers the Minister of Finance to enact rules in relation to transfer pricing. The new article 51 of the Income Tax Act states that such rules may provide for...

Budget Measures Implementation Act 2021

The Budget Measures Implementation Act (Act XVIII of 2021) was published on 16th April 2021.   The Act amends: Part II: Customs Ordinance Part III: Income tax Act Part IV: Social Security Act Part V: Duty on Documents and Transfers Act (click here to view an overview of the changes) Part VI: Motor...

Investment Aid 2021 Regulations

The Investment Aid 2021 Regulations were published by Legal Notice 156 of 2021. They provide for assistance in the form of a tax credit (which may be claimed against future tax bills) or a cash grant to undertakings carrying on or intending to carry out a 'qualifying...

COVID-19 Tax Deferral Scheme – CfR guidance updated

The COVID-19 Fiscal Assistance has been extended to cover eligible taxes (as defined) due up until December 2021. The updated guidance provides that settlement of eligible taxes will start from May 2022. The deadline for submission of an application for a tax deferral (via the Malta Enterprise website ) is...

Amendments to the Revenue Acts

Act VIII of 2021 was published on 12 March 2021 (enacting Bill 199 - see MIT News 26 February 2021). The Act introduces a series of amendments to the following legislation: Income Tax Act Income Tax Management Act Duty on Documents and Transfer Act Value Add...

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