Updated guidance on NID Rules
The MTCA has published updated guidance in relation to the Notional Interest Deductions Rules....
29 December 2023
Deductions in respect of intellectual property and intellectual property rights
The Commissioner for Tax and Customs has announced that, with effect from the period covered by the year of assessment 2024, any expenditure of a capital nature incurred on Intellectual Property or Intellectual Property Rights may, at the option of the person that has incurred...
29 December 2023
Increase in tax credit allowance for costs of therapy for children with disability
Further to the announcement in the budget for 2024, the Tax Credit (Costs of Therapy Provided to Children with Disability) Rules, have been revised (LN 296 of 2023) to increase the allowance from eur200 to eur500 with effect from Year of Assessment 2025....
18 December 2023
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....
15 December 2023
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...
11 December 2023
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...
11 December 2023
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....
1 December 2023
Taxation of gains or profit from activities carried out in an Exclusive Economic Zone
The Proviso to Article 4(1) of the Income Tax Act (CAP 123) has been revised by Act XXXV of 2023 to stipulate that income or capital gains arising from activities carried out in an exclusive economic zone area deemed to be carried out in Malta...
22 November 2023
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...
15 November 2023