LN 284 of 2020 amends the Tax Rate (Construction Waste Recycling) (2020 - 2023) Rules. The rules, which have been renamed the Tax Exemption (Construction Waste Recycling) (2020 - 2023) Rules now provide in Rule 3 that: "Income derived by an authorised person from qualifying services...
The Deductions and Tax Credits (Relevant Qualifications for Industry) Rules (S.L. 123.107) have been revised (LN 283 of 2020), effectively extending the application of the rules to relevant educational courses commencing before 31 December 2023. The Deductions and Tax Credits (Relevant Qualifications for Industry) Rules (S.L....
A new online income tax return (personal) has been launched by the Office of the Commissioner for Revenue. Tax payers can complete and submit their tax return online by logging into MyTax Services with their e-ID. The submission deadline has been extended until the 31 August 2020 for...
The Private Residential Leases (TaxRebate) Rules, 2020 were published on 23 June 2020 (LN 258 of 2020). The rules provide for a tax rebate (where the option under article 31D(2) of the Income Tax Act for taxation at 15% on the gross rental income has been...
The Final Settlement System (FSS) Rules (S.L. 123.200) have been revised in virtue of LN 246 of 2020 in connection with the introduction of the reduced rate of 15% on qualifying overtime income announced with the Budget for 2020. See MIT News - Tax on...
Further to the introduction of article 90B of the Income Tax Act with the Budget Measures Implementation Act, which provides for a 15% tax rate on qualifying overtime income with effect from 1 January 2020, LN 245 of 2020 sets out the rules governing the...
The Suspension of Legal Times (Revenue Acts) Order, 2020, which was published on 3rd April 2020 (see MIT News 5 April 2020) has been repealed in virtue of LN 242 of 2020. As a result: any legal time that was suspended and that had commenced running before the...
Following the announcement made on 8 June 2020 concerning the measures for the regeneration of the economy following the COVID-19 pandemic (see MIT News 9 June 2020), the Exemption from Tax on Certain Property Transfers Rules 2020 were published in virtue of LN 241 of...
The Commissioner for Revenue has issued guidance on the recovery measure announced on the 8th June 2020 concerning the reduced rates of income tax and duty on documents and transfers on certain property transfers, specifically: a reduction in the stamp duty of the acquisition of immovable...
