Commission proposal to allocate decison-making powers to VAT Committee

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...

Changes to the Deduction (Income from employment) Rules

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)....

Malta-Russia Double Tax Treaty

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...

Converting to ‘small undertaking’ status for VAT

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...

Changes to the VAT small undertaking thresholds

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...

Year of Assessment 2020 Tax Returns for Fiscal Units

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...

EU tax transparency rules to be extended to digital platforms (DAC7)

EU Member States have agreed to extend EU tax transparency rules to digital platforms. Following the proposal made by the Commission in July as part of the Action Plan for Fair and Simple Taxation the agreed proposal on administrative cooperation (DAC 7) will ensure that Member States automatically...