A guidance note on capital allowances in respect of car parks has been published by the Office of the CfR. The note clarifies the definition of “industrial building or structure” in article 2 of the Income Tax Act and provides that once a car park falls...
The Office of the CfR has announced that, as part of its compliance monitoring, entities in scope of the Cooperation with Other Jurisdictions on Tax Matters Regulations (SL 123.127) that will be receiving a formal letter from the Commissioner for Revenue are expected to reply...
Item 3 of the Seventh Schedule to the VAT Act has been revised (LN 52 of 2021) to include, in the exclusions from the 'taxable value', deposits which are regulated in terms of the Beverage Containers Recycling Regulations or any law which may be substituted therefor....
This week's edition of the CFE Tax Top 5 looks at the following: CFE Tax Advisers Europe Annual Report EU Commission Launches Consultation on State Aid Enforcement Council to Discuss Financial Transactions Tax EU Commission Publishes Digital Targets Roadmap Save the Date: CFE European Register...
The Office of the CfR has announced that persons who derive income from a private residential lease which is registered with the Housing Authority as a long lease, are eligible for a tax rebate against the tax chargeable on such rental income. The rebate is applicable...
The 2021 Risk Evaluation Questionnaires (“REQs”) will be available for completion by subject persons as from 1st March 2021 on the Compliance and Supervision Platform for Assessing Risk (CASPAR) System. The submission deadline for Tax Advisors is 21st April 2021. A copy of the revised 2021 REQs per...
This week's edition of the CFE Tax Top 5 looks at the following: OpenLux: Tax Investigation into Luxembourg by Le Monde EU Commission Launches Consultation on VAT Rules for Financial & Insurance Services Grounds of Appeal in Apple State Aid Case Published EU Commission Publishes...
The European Commission has launched a public consultation on the VAT rules for Financial Services and Insurance. The objective of this public consultation is to obtain the views of stakeholders on the current VAT rules on financial and insurance services and their functioning as well as...
Pursuant to LN 39 of 2021, the Enrolled Voluntary Organisations (Tax Exemption) Rules (SL 123.190) have been revised. In terms of the changes, which apply as of year of assessment 2022, the tax exemption in terms of Rule 3 applies to enrolled organisations whose turnover for...
