Further to the Commission proposal last month (See MIT News 10 May 2020) the European Council has approved an amendment to the Directive on Administrative Cooperation (DAC) allowing member states an option to defer the time limits for the filing and exchange of certain information by up to...
A new online income tax return (personal) has been launched by the Office of the Commissioner for Revenue. Tax payers can complete and submit their tax return online by logging into MyTax Services with their e-ID. The submission deadline has been extended until the 31 August 2020 for...
The Private Residential Leases (TaxRebate) Rules, 2020 were published on 23 June 2020 (LN 258 of 2020). The rules provide for a tax rebate (where the option under article 31D(2) of the Income Tax Act for taxation at 15% on the gross rental income has been...
This week’s edition of the CFE Tax Top 5 looks at the following: US Withdraws from International Digital Tax Negotiations; EU Parliament Establishes Permanent Tax Subcommittee; ECJ Decision – KrakVet Marek Batko Case C-276/18 on Cooperation Between Member States Tax Authorities for VAT Purposes; EU...
LN 250 of 2020 published on 19 June 2020 amends the Excise Duty Act (CAP 382), reducing excise duty on certain products listed in the Fourth Schedule to the Act by €0.06c per litre....
The Final Settlement System (FSS) Rules (S.L. 123.200) have been revised in virtue of LN 246 of 2020 in connection with the introduction of the reduced rate of 15% on qualifying overtime income announced with the Budget for 2020. See MIT News - Tax on...
Further to the introduction of article 90B of the Income Tax Act with the Budget Measures Implementation Act, which provides for a 15% tax rate on qualifying overtime income with effect from 1 January 2020, LN 245 of 2020 sets out the rules governing the...
This week’s edition of the CFE Tax Top 5 looks at the following: EU Council Reaches Agreement on DAC6 Reporting Extension; Council of EU Publishes Overview of Member States’ Preferential Tax Regimes; US Launches Investigations into Countries with Digital Taxes; EU Commission to Extend Temporary...
The Suspension of Legal Times (Revenue Acts) Order, 2020, which was published on 3rd April 2020 (see MIT News 5 April 2020) has been repealed in virtue of LN 242 of 2020. As a result: any legal time that was suspended and that had commenced running before the...
