The Malta Institute of Taxation and the Institute of Financial Services Practitioners have considered the provisions and implications of the Exemption from Tax on Property Transfers (Set-off of Tax Arrears) Rules, S.L. 123.202 (the ‘Rules’) and are of the view that the Rules are not...
The Office of the CfR has notified that the annual notification by non-disclosing intermediaries that is required in terms of regulation 13(7)(e) of the Cooperation with Other Jurisdictions on Tax Matters Regulations is now available for download from the CfR Website. The deadline for submission of this annual notification...
updated 13 November 2021 The Exemption from Tax on Property Transfers (Set-off of Tax Arrears) Rules, 2021, were published virtue of LN 419 of 2021. The rules apply to any transfer on which tax is chargeable in terms of article 5A of the Income Tax Act that...
Following the Minister for Finance’s budget speech delivered on 11 October 2021, a Bill entitled “An Act to implement Budget measures for the financial year 2022 and other administrative measures”, detailing some proposed amendments to the relevant laws, has been published. The Bill can be downloaded from...
A new regulation 8 has been added to the Investment Aid Regulations 2021, pursuant to LN 390 of 2021, which inter alia regulates the computation of the investment tax credit, provides that where the benefitting undertaking distributes the income which was relieved from tax, the dividend...
In his Budget Speech for 2022 the Minster for Finance and Employment yesterday announced a change to the administrative practices around the granting of a remission for interest on overdue taxes pursuant to SL 372.26. In terms of the legislation the Commissioner may only remit interest...
Earlier this evening the Minister for Finance and Employment, the Hon Clyde Caruana, delivered the Budget Speech for 2022, which put social measures and measures addressing sustainability at the forefront. The following is an overview of some of the fiscal measures announced: An increase in the...
Earlier this week it was announced that the Budget for 2022 will be presented on Monday 11 October 2022....
LN 325 of 2021 published on 6 August 2021 has revised the Exemption from Tax on Certain Property Transfers Rules, extending the application of the reduced rate of tax of 5% on the first eur400,000 to transfers inter vivos taking place before 1 January 2022. Furthermore,...
