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...
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...
The MTCA has announced that Malta has agreed to the Proposal for a Council Directive amending Directive 2011/16/EU on administrative cooperation in the field of taxation (DAC 8) (See MIT News 17 October 2023), and, to the Standard concerning the automatic exchange of information agreed...
The Budget Measures Implementation Bill - a bill to implement Budget Measures for the Financial Year 2024 and other administrative measures - has been published. View here. The Bill proposes amendments to: the Customs Ordinance Cap. 37 the Social Security Act Cap. 318 the Value Added...
The MIT will be hosting the third and final event of the MIT Annual Tax Conference 2023 on 14th November 2023 at the Westin Dragonara Resort. The event marks the 75th Anniversary of the Income Tax Act (1948 - 2023) and the content will centre around...
This week's edition of the CFE Tax Top 5 looks at the following: European Parliament Adopts Resolutions on Role of Tax Policy & Reform of Corporate Tax Policy European Commission Publishes 2023 VAT Gap Report OECD Webinar on MLI to Implement Amount A of Pillar 1 ...
The Minister for Finance and Employment, the Hon Clyde Caruana, has delivered the Budget Speech for 2024. The following is an overview of some of the fiscal measures announced: A tax credit of a maximum of €500 on donations made by businesses to voluntary organisations...
The Malta Institute of Taxation hosted a Graduation Ceremony for graduates of the MIT Course on Taxation 2022/2023 (MQF 6) and the MIT Course on Tax Compliance 2022/2023 (MQF 5), at The Malta Stock Exchange, on Thursday 12th October 2023. The event was opened by the...
The EU Commission's annual VAT Gap Study, which measures the difference between theoretically expected VAT revenues and the amount actually collected, has revealed that in 2021 Member States lost around €61 billion in VAT. This is a significant improvement compared to €99 billion lost in...
