DAC 6 – Notification deadline for non-disclosing intermediaries

​The Commissioner for Revenue has announced that due to the deferral of the reporting deadlines as a result of the COVID-19 pandemic, the period allowed for notification by non-disclosing intermediaries is being extended. In the case of cross-border arrangements subject to reporting in the period from...

New version of YA2020 company tax return

A new version of the YA2020 company tax return (version 1.6) will be available on the CfR portal on 18 September 2020. The Office of the CfR has notified that version 1.6 will include an updated version of TRA112 (to be completed by taxpayers falling within...

ATAD Implementation Guidelines published

Guidelines on the European Union Anti-Tax Avoidance Directives Implementation Regulations, 2018 (S.L. 123.187) were published today by the Office of the CfR. The document provides guidance the scope and application of the rules concerning: Interest Deduction Limitations, Exit Taxation and CFCs. The guidelines can be downloaded here.   source: cfr.gov.mt...

Research & Development Regulations 2020 published

The Research & Development Regulations 2020 (LN 346 of 2020) were published on 26 August 2020. In terms of the Regulations, which apply retroactively from 1 March 2020, the Malta Enterprise Corporation may assist undertakings that require assistance to carry out Research and Development projects (as...

COVID-19 temporary support measures regulations

The COVID-19 Temporary Support Measures Regulations, 2020 were published on 25 August 2020 in virtue of LN 345 of 2020, with effect from 1 April 2020. The Regulations authorise the Malta Enterprise Corporation to provide assistance to eligible undertakings which require support to sustain, preserve and...

Fiscal Unity YA2020 application deadline extended

The deadline for applying for fiscal unity in respect of the Year of Assessment 2020 has been extended from 31 August 2020 [see the Guidelines in relation to the Consolidated Group (Income Tax) Rules] to 30 September 2020. See CfR announcement here.  ...

FSS forms updated

The Office of the CfR has announced that the FSS forms have been updated to reflect changes brought about by the Tax on Overtime Rules (See MIT News 17 June 2020) and the Covid19 Wage Supplement. The revised forms can be downloaded at this link. Guidance on...

Deferment of taxes – Update

The Office of the CfR has updated the guidelines concerning the deferral of certain taxes, one of the measures announced in March 2020 to assist businesses that suffered a significant downturn in their turnover as a result of the economic constraints arising from the coronavirus pandemic. The...