DAC 7 Guidelines updated

The Malta Tax & Customs Administration has published Version 1.3 of the DAC 7 guidelines (Platform Operators) with updates to Section 2.5. View the guidelines here....

Nomad Residence Permit Income Tax Rules

Rules governing the taxation of holders of a Nomad residence permit have been published by LN 277 of 2023. The rules establish that permit holders will be chargeable to income tax at the rate 10% on  chargeable income derived from "authorised work" as defined, subject to...

Tax refunds by electronic transfer

The Payment of Tax Refunds by means of Electronic Transfers Rules have been published by LN 281 of 2023. The rules enable the Commissioner for Tax & Customs to effect the refund of tax due pursuant to article 48 of the Income Tax Management Act by...

MTCA Manual on Return Attachments

The Malta Tax & Customs Administration (MTCA) has published a Manual on the Return Attachment (RA) Forms. View the manual here....

Extension of tax credits for qualifying industry qualifications

The Deductions and Tax Credit (Relevant Qualifications for Industry) Rules, which offer a tax credit for students successfully completing qualifying courses as determined by Malta Enterprise, have been revised by LN 266 of 2023, extending their application to courses commencing before 31 December 2024 (extended...

Crypto-Asset Reporting Framework

The MTCA has announced that Malta has agreed to the Proposal for a Council Directive amending Directive 2011/16/EU on administrative cooperation in the field of taxation (DAC 8) (See MIT News 17 October 2023), and, to the Standard concerning the automatic exchange of information agreed...

Budget Measures Implementation Bill

The Budget Measures Implementation Bill - a bill to implement Budget Measures for the Financial Year 2024 and other administrative measures - has been published. View here. The Bill proposes amendments to: the Customs Ordinance Cap. 37 the Social Security Act Cap. 318 the Value Added...

Malta Budget 2024

The Minister for Finance and Employment, the Hon Clyde Caruana, has delivered the Budget Speech for 2024. The following is an overview of some of the fiscal measures announced: A tax credit of a maximum of €500 on donations made by businesses to voluntary organisations...