Further to the consultation on the revised Risk Evaluation questionnaires (REQs) held earlier this year, the FIAU has published the 2020 REQs on its website. Subject Persons, which includes Tax Advisors, are required to complete and submit the respective REQ via the CASPAR system. Guidance on the...
The Office of the Commissioner for Revenue has announced that they will no longer be accepting payments by bank drafts/cheques drawn on foreign banks. Furthermore, refunds of tax may no longer be issued through the use of bank drafts/cheques in foreign currencies....
As part of the ongoing work of the OECD/G20 Inclusive Framework on BEPS , the OECD has released a public consultation document on the review of Country-by-Country Reporting (BEPS Action 13). Action 13 of the BEPS Project established a three-tiered standardised approach to transfer pricing documentation, including...
LN 29 of 2020 amends Regulation 10 of the EuropeanUnion Anti-Tax Avoidance Directives Implementation Regulations relating to Reverse Hybrid Mismatches, clarifying that this provision enters into effect on 1 January 2022....
On 18 February 2020 EU Finance Ministers updated the EU list of non-cooperative tax jurisdictions. In summary: 12 jurisdictions (American Samoa, Fiji, Guam, Oman, Samoa, Trinidad and Tobago, US Virgin Islands, Vanuatu, Cayman Islands, Palau, Seychelles and Panama) have been added to the list of non-cooperative tax jurisdictions; ...
Parents whose children were enrolled with a sports provider registered with SportMalta in 2019 may benefit from a tax rebate (per child) of up to €100. Applications forms are to be submitted by February 2020. Download a copy of the form here. Parents whose children, during 2019, attended a...
The Agreement between the government of the republic of Malta and the government of the republic of Ghana for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income has been published in virtue of LN 23 of...
LN 22 of 2020 has revised the Deduction (Income from Employment) Rules (S.L. 123.149), increasing the annual income requirement threshold from €9,700 to €9,840. The revised provision applies with effect from YoA 2021....
The Office of the Commissioner for Revenue has announced an adjustment to the contributions rates for the basis year 2020, specifically, to the basic salary threshold of category 'D' for those persons born up to 31 December 1961. The revised rates applicable as of 1 January 2020 for...
