COVID-19 Tax Deferral – Update

On 8 June 2020 the Minister for Finance announced that the measure permitting the deferral of the payment of taxes (see MIT News 20 March 2020) will be extended, with regard to some of the eligible taxes, until the end of August. Provisional Tax, VAT and...

Reduction in taxes on property transfers

On 8 June 2020 a package of measures intended to regenerate the economy in the wake of COVID-19 were announced. These measures included: a reduction in the stamp duty of the acquisition of immovable property (residential) from 5% to 1.5%; and a reduction in the final...

Fiscal Unit Registration Guidelines updated

The CfR Guidelines issued upon the launch of the registration process for fiscal units (See MIT News 18 May 2020) have been updated to reflect changes to paragraphs (i) and (vi). Paragraph (i) provides that in order to join or form part of a fiscal unit, a...

CFE Tax Top 5 (2 June 2020)

This week’s edition of the CFE Tax Top 5 looks at the following: EU Commission Presents Recovery Package Proposal; EU Launches Digital Services Act Package Consultation; OECD Publishes Report on Restoration Planning by Tax Administrations; EU Publish Antitrust Competition Tool Inception Impact Assessment; EU Launch...

Changes to VAT Act published: VAT e-commerce package

Legal Notices 219 to 226 of 2020 were published on 2 June 2020. The legal notices introduce amendments to the VAT Act implementing Council Directives 2017/2455, 2009/132/EC and 2019/1995/EC amending Directive 2006/112/EC concerning the VAT e-commerce package which was expected to come into force on 1 January...

Income tax return deadline extended

The Office of the CfR has announced that the submission deadline for the Income Tax Return for Year of Assessment 2020 is being extended to 31 July 2020 due to Covid-19. The returns will be mailed during the last week of June.   source: cfr.gov.mt  ...

New CfR online services – electronic forms processed in real time

The Commissioner for Revenue has announced that the following 5 new online services have been launched for persons in business as from 1 June 2020: PE Registration Form, PE Deactivation Form, PE Reactivation Form, VAT – Change in Register and VAT – Maintain Economic Activity. Requests...

Re-opening of CfR front office at MBR premises

The Office of the Commissioner for Revenue has notified that the front office that processes share transfer documents for income tax and duty purposes housed within the premises of the Malta Business Registry (MBR) will re-open to the public on the 1st of June. Persons are...

CFE Tax Top 5 (25 May 2020)

This week’s edition of the CFE Tax Top 5 looks at the following: France to Impose Digital Tax in Absence of OECD Agreement; EU Economic & Finance Ministers Videoconference on EU COVID-19 Response; European Spring Semester Package Released; UK Publish Post-Brexit Global Tariff Plan; French-German...

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