The European Commission has launched a public consultation on the proposed initiative to introduce a digital levy. The Inception Impact Assessment indicates that the options for the digital levy which are being considered include: A corporate income tax top-up to be applied to all companies conducting certain...
This week's edition of the CFE Tax Top 5 looks at the following: Christmas Miracle: Brexit Deal Reached OECD Pillar 1 & 2 Consultation – 14 to 15 January Commission Publishes Guidance on Coronavirus Support Measures EU-China Trade Agreement In Memoriam of Dr Tom O’Shea Click...
The Eighth Schedule of the VAT Act has been amended (LN 5 of 2021) to extend the reduced rate of 5% to the following until 31 December 2022: goods falling under sub-headings 9027.80.80 and 3821.00 where they consist of COVID-19 in vitro diagnostic medical devices; and services...
The Fifth Schedule Part 1 of the VAT Act has been amended (LN 4 of 2021) to extend the exemption with credit (zero-rate) to "services closely linked to COVID-19 vaccines falling under sub-heading 3002.20 of the Customs Tariff contained in the First Schedule to the...
The deadline for submission of the FS3 and FS7 is 15 February 2021. The Office of the CfR has notified that employers submitting more than 9 FS3 documents are obliged to file electronically, whilst employers submitting less than 9 forms can submit electronically or manually. Manual FS7 and...
Further to the public consultation on the OECD/G20 Inclusive Framework Pillar One and Pillar Two Blueprints, an online zoom meeting will be held on 14 and 15 January 2021. The event will also be live-streamed on OECD TV. Click here for further details. source: OECD.org...
The Commissioner for Revenue has announced that the online registration process applicable to DAC6 Reporting Entities required to submit information in relation to reportable cross-border arrangements is now available. This may be accessed at this link. source: cfr.gov.mt...
The Office of the CfR has announced that the Guidelines on the Mandatory Automatic Exchange of Information in relation to Cross-Border Arrangements have been published. Click here to view Version 1.0 of the guidelines. source: cfr.gov.mt...
A Customs Guidance Document on the Importation and Exportation of Low Value Consignments has been published. This aims to complement the VAT Explanatory Notes published in September 2020 (see MIT News 1 October 2020) with further clarification and practical examples on the customs rules and...
