In terms of Council Implementing Decision (EU) 2020/1662 of 3 November 2020 Malta's request to continue to apply a special measure derogating from Article 287 of Directive 2006/112/EC, and to increase the threshold for small undertakings, was acceded to. To date a €20,000 threshold applies to...
On 1 October 2020, Malta and Russia signed amendments to the Convention between the Government of Malta and the Government of the Russian Federation for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income, which were published on 10...
LN 427 of 2020 published on 10 November 2020 has amended the Duty on the Acquisition of the Second Immovable Property to be used as Sole Residence (Exemption) Order [LN 364.17], implementing the announcement in the Budget for 2020, extending the application of the order...
LN 427 of 2020 published on 10 November 2020 has amended LN 364.16, implementing the announcement in the Budget for 2021, extending the application of article 3 by one year to transfers made on or after the 10th October 2017 but before the 1st January 2022. Click...
Article 3 of the Exemption of Duty in terms of article 23 Order [SL 364.12], which deals with the exemption of duty on acquisition of first immovable property, has been revised in virtue of LN 427 of 2020, published on 10 November 2020, inter alia...
The Office of the CfR has announced that the Electronic Lodgement Specifications has been updated. The updates include fields relating to director’s fees and overtime eligible for the 15% tax deduction. Click here to view the updated document. source: cfr.gov.mt...
The Office of the CfR has published a guidance note which is intended to provide a general overview of the European Union Dispute Resolution Mechanisms Directive Implementation Regulations (SL 123.191). source: cfr.gov.mt...
This week's edition of the CFE Tax Top 5 looks at the following: Joe Biden Elected 46th President of the United States ECOFIN: Ministers Endorse EU-Level AML Supervision EU Commission October Infringements Package Published Registration: CFE Professional Affairs Virtual Conference on Taxpayers Rights – 30...
The Budget Measures Implementation Bill (Bill 173 of 2020) has proposed an amendment to the Income Tax Management Act (CAP 372). A proposed new proviso to article 13(4), which provides a 5-year time limit within which to adjust a tax return resulting in a reduction in...
