Further to the announcement in the Budget for 2022 of the introduction of a tax exemption on first €750,000 on transfers of certain property (property constructed over 20 years ago which has been vacant for 7 years, property in an UCA or property with traditional...
This week's edition of the CFE Tax Top 5 looks at the following: European Parliament Adopts Public Country-by-Country Reporting Legislation Carbon Trading Mechanism Agreed at COP26: World’s Climate Policy Summit Register Now: CFE Conference on “Professional Judgment in Tax Planning” on 25 November 2021 Tax Inspectors...
The Office of the CfR has issued version 1.1 of the Guidelines on the Mandatory Automatic Exchange of Information in relation to Cross-Border Arrangements. The updated guidelines are available for download from the CfR Website. The updates relate to the annual notification of non-disclosing intermediaries in...
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...
