This week's edition of the CFE Tax Top 5 looks at the following: Revised EU Energy Taxation Directive: Presidency Progress European Parliament FISC International Tax Policy Hearing European Parliament Approves Revised Council Proposal on FASTER OECD Secretary-General G20 Report OECD Consumption Tax Trends Report Click here for...
Further to the changes to the Excise Duty Act announced in the Budget Measures Bill, which, once enacted, will come into effect on 1 January 2025, the Malta Tax & Customs Administration has published a notice to operators which contains guidance on the transition to...
The EU Commission has launched a portal dedicated to the VAT rules for Small Enterprises (i.e. the 'small undertakings' under the Malta VAT Act). The new VAT rules for Small Enterprises will enter into effect on 1 January 2025. Under the new rules, businesses which are...
A bill to amend the VAT Act (CAP 406) has been published - view here. The changes proposed to the VAT Act, implement the changes to the VAT Directive (Dir 2006/112EC) introduced by Directive 2020/285 as regards the special scheme for small enterprises (See MIT News...
At the meeting of the ECOFIN Council of 5 November 2024, agreement was reached on the VAT in the Digital Age package (see MIT News 8 December 2022). After nearly two years of negotiations, agreement was reached on a compromise proposal which addresses: Digital Reporting Requirements Mandatory...
Further to the Budget for 2025 announced on 28 October 2025, the Budget Measures Implementation Bill has been published. The bill proposes amendments to: Part II Amendment to the Customs Ordinance. Cap. 37. Part III Amendments to the Income Tax Act. Cap. 123. Part IV...
This week's edition of the CFE Tax Top 5 looks at the following: EU Commission Publishes DAC9 Proposal for a Central Filing Mechanism for Pillar 2 Reporting New EU Tax Priorities: Insights from Commissioner-Designate Wopke Hoekstra’s Q&A for Confirmation Hearing ECOFIN: Political Agreement Expected This Week on...
On 28 October 2024 the EU Commission adopted a proposal to amend the Directive on administrative cooperation in the field of taxation (Directive 2011/16/EU). The DAC9 proposal is linked to the filing obligations imposed under the Pillar 2 Directive (Directive (EU) 2022/2523), which aims to ensure a...
The Minister for Finance and Employment, the Hon Clyde Caruana, has delivered the Budget Speech for 2025. The following is an overview of some of the fiscal measures announced: → The income tax brackets for individuals (single, married and parent computations) will be widened, which is...
