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...
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...
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...
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...
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),...
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...
The Budget Measures Implementation Act – Act XIII of 2024 – has been published. View here. The Act amends: the Customs Ordinance Cap 37 the Income Tax Act. Cap 123 the Central Bank of Malta Act Cap 204 the Social Security Act Cap 318 the Duty...
The Malta Tax & Customs Administration has published guidance on the submission of final withholding tax forms (TA22, TA23 & TA24) via the MyTAX portal at https://mtca.gov.mt Download the MTCA presentation here....
By Legal Notice 62 of 2024 the Minister for Finance has named the organisations listed therein as being engaged in philanthropic work, and thus exempt from income tax, including, Aditus Foundation, Fondazzjoni Dar il-Hena and Foodbank Lifeline Foundation Malta....
