The Budget measures Implementation Bill [Bill No. 173] is proposing the introduction of a new exclusion from deductions permitted under the Income Tax Act (CAP 123). It is being proposed that the following be added to the list in article 26 of the Act: "(i) any...
Pursuant to the announcement in the Budget for 2021 of a flat rate of 15% on royalties earned by authors (See MIT news 19 October 2020), article 15 of the Budget Measures Implementation Bill sets out the proposed new article 31F of the Income Tax...
This week's edition of the CFE Tax Top 5 looks at the following: CJEU Decision in Cross-Border Exchange of Information Cases OECD Digital Tax Economic Impact Assessment Webinar Save the Date: CFE Professional Affairs Virtual Conference on Taxpayers Rights – 30 November EU Commission Commences...
On 19 October 2020 the Minister for Finance and Financial Services, Prof. Edward Scicluna, delivered the Budget Speech for 2021. The following is an overview of some of the social measures announced: Cost of living increase of €1.75c; An additional day of leave for employees; Children’s...
Earlier this evening the Minister for Finance and Financial Services, Prof. Edward Scicluna, delivered the Budget Speech for 2021. The following is an overview of some of the fiscal measures announced. Tax Refund In 2021, eligible persons will receive a tax refund in an amount ranging from €45 to...
The Office of the CfR have issued an alert to VAT registered persons in connection with a letter from an entity called 'VRE', asking the recipient to input their VAT number, sign and return such letter to a PO Box address in Germany. Click here for details. source: cfr.gov.mt...
The OECD/G20 Inclusive Framework on BEPS, has agreed during its 8-9 October 2020 meeting that the two-pillar approach they have been developing since 2019 provides a solid foundation for a future agreement. During the meeting, a new Blueprint for Pillar One of the project was approved...
The OECD has published a report, with the participation of over 50 countries, which analyses the approaches and policy gaps across the main tax types (income, consumption and property taxes) in these countries in connection with virtual currencies. Taxing Virtual Currencies was prepared for presentation to the October 2020 meeting of...
This week's edition of the CFE Tax Top 5 looks at the following: OECD Digital Tax Webcast Update & Pillar 1 and 2 Consultation Council of the EU Update Blacklist of Non-Cooperative Jurisdictions for Tax Purposes EU Parliament Appoints New Financial Services & Capital Markets...
