Personal Tax Return available online
The online service for the filing of the Personal Income Tax for YA 2024 (basis year 2023), is now enabled - see MTCA announcement....
3 June 2024
Tax treatment of interest paid under the VAT Act – MTCA guidance
Further to the repeal of article 74 of the VAT Act with the Budget Measures Implementation Act, the Malta Tax & Customs Administration (MTCA) has issued Guidance clarifying that the income tax treatment of interest paid pursuant to the provisions the VAT Act has, with...
31 May 2024
MTCA Guideline: Exemption for transfer of a dwelling house
The MTCA has published a Guideline on the interpretation of one of the conditions for the exemption granted under article 5A(4)(c) of the Income Tax Act on the transfer of a dwelling house. View here....
26 May 2024
Updated Guideline on Article 6 ITA
The guidelines on the application of Article 6 of the Income Tax Act (CAP 123), in terms of which an Investment Services or Insurance Expatriate, as defined, may opt to be exempted from tax on income relating to certain personal expenses, which would otherwise be...
26 May 2024
ECOFIN agrees on new rules for withholding tax procedures (FASTER)
At the ECOFIN meeting of 14 May 2024, Council reached an agreement on the so-called FASTER initiative which was proposed in June 2023 (See MIT news 23 June 2023). This initiative, aims to make withholding tax procedures in the EU safer and more efficient for...
15 May 2024
Consultation: Evaluation of administrative cooperation in the field of direct taxation
Pursuant to article 27(1) of Directive 2011/16/EU on administrative cooperation in the field of direct taxation (DAC), which lays down the rules and procedures for close cooperation between Member States’ tax authorities in direct tax matters, the Commission will be evaluating the said Directive in...
9 May 2024
MTCA publishes legislative update
The MTCA has published Legislative Update 3 of 2024, which gives an overview of subsidiary legislation issued under the Income Tax Acts between January and April 2024. source: cfr.gov.mt...
23 April 2024
End of April Tax Deadlines
Taxpayers are reminded of the following 30 April 2024 deadlines: 15% Tax on Rental Income - TA24 10% Tax on Part-Time Self-Employment - TA 22 Provisional Tax and Social Security Contributions - PT1 For information on Online Payments to the Malta Tax & Customs Administration (MTCA),...
22 April 2024
Tax Credit for Donations to Voluntary Organisations
Rules concerning tax credits for companies making cash donations to enrolled voluntary organisations operating directly in the field of social, environmental or animal welfare were published by Legal Notice 86 of 2024. In terms of the rules, the allowable tax credit for any year of assessment...
13 April 2024