This week's edition of the CFE Tax Top 5 looks at the following: Brexit Deal Not Reached by EU Parliament Deadline EU Publishes “EU Digital Age” Proposals for Digital Companies EU Commission Publishes Proposal to Confer Implementing Powers on EU VAT Committee EU Legislative Priorities...
LN 459 of 2020 has revised the Exemption from Tax on Certain Property Transfers Rules (SL 123.199), substituting Rule 3 concerning the applicability of the rules, inter alia, addressing transfers made on or after 9 June 2020 but before 1 January 2022....
The Tax Rebate (Pensioners) Rules have been revised, essentially increasing the amounts by which the rebates are capped. The changes introduced by LN 460 of 2020 shall apply in respect of income earned on or after the 1st January 2021....
Further to the European Commission's consultation on the a proposal to turn the VAT Committee into a ‘comitology committee’ (see MIT News 4 October 2020) the Commission has presented a proposal for a Council Directive amending Directive 2006/112/EC as regards conferral of implementing powers to the Commission...
LN 462 of 2020 has revised the Deduction (Income from employment) Rules. With effect from YA 2022, the rules shall apply where the income from employment in the year immediately preceding the year of assessment does not exceed €9,930 (reduced from €9,840)....
Further to the publication of the Double Taxation Relief (Taxes on Income) (Russian Federation) Order (see MIT News 11 November 2020), the Protocol amending the Convention between the Government of Malta and the Government of the Russian Federation for the Avoidance of Double Taxation and the...
Pursuant to LN 463 of 2020 the conversion from an 'Article 10' registration (standard) to an 'Article 11' registration (small undertaking), may now be made after the lapse of a full 24 calendar months, replacing the 36-calendar-month requirement. Furthermore, the revised Sixth Schedule of the...
Further to the announcement in the Budget Speech (see MIT News 21 October 2020), LN 463 of 2020 has introduced changes to the Sixth Schedule to the VAT Act in connection with the 'small undertaking' thresholds. Once the changes enter into effect, there will be two...
The Office of the Commissioner for Revenue has announced that the income tax return and the supplemental document for Year of Assessment 2020 required to be filed by a principal taxpayer in respect of a fiscal unit are now available for download. Kindly note that whilst...
