The Office of the CfR has informed Reporting Malta Financial Institutions that version 4.2 of the AEOI Implementing Guidelines has been published. The updates are indicated in section 1.4 and refer to section 14.1 (Relief for reporting on certain pre-existing accounts that are U.S. reportable...
The Exemption from Tax on Property Transfers (Set-off of Tax Arrears) Rules, which were introduced in 2021 (See MIT News 10 November 2021) have been revised by LN 9 of 2023 amending Rule 4 introducing a notification cut-off date of 31st March 2023....
The Cooperation with Other Jurisdictions on Tax Matters Regulations (SL 123.127) have been revised by LN 8 of 2023. The numerous amendments introduced by this measure include the introduction of a definition of "joint audit" and a new provision regulating joint audits; clarification of the notion...
This week's edition of the CFE Tax Top 5 looks at the following: Rentrée 2023: Anticipated EU Tax Developments in 2023 OECD Appoints New Director of Centre for Tax Policy & Administration EU Adopts Minimum Tax Directive ECJ: Airbnb Ireland & Airbnb Payments UK – Case C-83/21 ...
This week's edition of the CFE Tax Top 5 looks at the following: EU Adopts Minimum Tax Directive EU Progressed Landmark Agreement on Carbon Leakage Prevention OECD Publishes 2021 Peer Review Reports on the Exchange of Information on Tax Rulings OECD CFE Opinion Statement on Case C-538/20 (W...
In its final step in the legislative process, the EU Council has formally adopted a directive on ensuring a global minimum level of taxation for multinational enterprise groups and large-scale domestic groups in the Union (Pillar 2). Source: consilium.europa.eu...
At its meeting of 15 December 2022 the Council of the European Union recalled the European Union’s determination to have both Pillar 1 and Pillar 2 implemented and called on the Commission to "monitor ongoing negotiations of the multilateral convention (MLC) on Pillar 1 and to...
The Czech Presidency of the EU has announced the unanimous agreement of the Member States to approve the Commission's proposal for a Directive ensuring a minimum effective tax rate for large multinational groups. The proposed Directive will be formally adopted by written procedure. source: ec.europa.eu...
On 8 December 2022 the European Commission proposed new amendments to the Directive on Administrative Cooperation to include exchange of information on crypto-assets (DAC8). The proposed revised Directive contains rules for reporting and exchange of information on crypto-assets for direct tax purposes applicable to service providers facilitating...
