The Minister for Finance and Employment, the Hon Clyde Caruana, has delivered the Budget Speech for 2025. The following is an overview of some of the fiscal measures announced: → The income tax brackets for individuals (single, married and parent computations) will be widened, which is...
The Malta Tax & Customs Administration has published a new Guidance Note in Relation to the Taxation of Insurance Businesses Following the Adoption of IFRS 17 Insurance Contracts Rules. View the guidance here....
The Malta Tax & Customs Administration launched a comprehensive Client Satisfaction Survey on 19 September. The survey, which has been sent to taxpayers by email, is aimed at gathering feedback from both service providers and individual taxpayers. ...
The Minister for Finance has launched the Pre-Budget Consultation Document 2025 Chapter 2 of the document, under the heading 'Ensuring Sustainability in Public Finances', provides an update on the programme for the modernisation of the Maltese Tax and Customs Administration, including: the implementation of a digitised...
The Income Tax (Deductions) (Amendment) Rules have been revised by LN 229 of 2024 to include provisions governing deductions made in accordance with the second proviso to article 14(1)(m) of the Income Tax Act in respect of expenditure of a capital nature on intellectual property...
Legal Notice 204 of 2024 has amended the First Schedule to the Immovable Property (Acquisition by Non-Residents) Act...
The EU Commission has launched a public consultation on draft legislation which introduces a common template and electronic format for annual country-by-country reporting obligations for large multinational corporations operating in the EU, who are required to disclose income tax information for a given financial reporting...
The Malta Tax and Customs Administration (MTCA) has announced that today's deadline for the electronic filing of income tax returns for individuals has been extended by 1 week to Wednesday 7 August 2024. The due date of the relative payment is being extended accordingly. The personal income...
The Income from Sport Activities Rules 2024 (LN 147 of 2024), which come into force with effect from YA 2025, extends the application of the 7.5% tax rate, which has applied to players, licensed coaches and athletes (article 56(26) of the Income Tax Act, CAP...
