Increase in additional tax rate payable under PT rules

A new proviso has been added to Rule 14 of the Payment of Provisional Tax (P.T.) Rules (SL 372.18) pursuant to Legal Notice 99 of 2022 which provides that the additional tax payable in respect of late payment of PT shall be charged, for any period or part...

Pension tax exemption rules 2022

The Pensions (Tax Exemption) Rules 2022 were published on 4 March 2022 (LN 98 of 2022). The rules set out the exemption thresholds for pensions income derived by an individual on or after 1 January 2022.   UPDATE: Revised by LN 220 of 2022  ...

MIT-MIA-IFSP Joint Event on the Shell Companies Directive

On 4th March 2022, the MIT, MIA and IFSP hosted a webinar on the Shell Companies Directive: Understanding its Impact on the Maltese Corporate and Financial Services Sector. The event kicked off with a presentation by Dr Rachel Zarb Cousin (Deloitte) and Dr Christopher Bergedahl (Deloitte)...

CFE Tax Top 5 (28 February 2021)

This week's edition of the CFE Tax Top 5 looks at the following: EU Council Reviews Tax Blacklist OECD Publishes Public Comments on Draft Pillar I Nexus & Revenue Sourcing Rules Applications Open: CFE Tax Advisers Europe’s 2021 Albert J. Raedler Medal Award OECD Consultation on...

Council reviews EU list of non-cooperative jurisdictions

The EU Council has reviewed the EU list of non-cooperative jurisdictions for tax purposes. American Samoa, Fiji, Guam, Palau, Panama, Samoa, Trinidad and Tobago, US Virgin Islands and Vanuatu remain on the list and no new countries have been added. The Council conclusions on the revised list...

OECD Consultation on tax base determination under Pillar One

Amount A of Pillar One introduces a new taxing right over a portion of the profit of large and highly profitable enterprises for jurisdictions in which goods or services are supplied or consumers are located. The OECD has launched a public consultation on the model...

CFE Opinion Statement on Case C-437/19 DAC

The CFE has issued an Opinion Statement on the CJEU decision of 25 November 2021 in Case C-437/19, État luxembourgeois v L, on the conditions for information requests and taxpayer remedies, where in the Court clarified the conditions for the identification of a taxpayer in group...

OECD consultation on Pillar 1

On 4 February the OECD launched a  public consultation on Pillar 1 of the international taxation agreement, which concerns tax allocation rules. Stakeholders are invited to give feedback on the new Draft Rules for Nexus and Revenue Sourcing by no later than 18 February 2022. The European...