Covid-19 wage supplement: SSC and FSS

The Office of the CfR has published guidance on the implications of the wage supplement on Payroll and SSC reporting. Payroll In summary, the guidance clarifies that: The wage supplement (€800 or less according to eligibility) will replace the normal wages of the employee and is therefore taxable...

MBR update: COVID-19

The Malta Business Registry has announced the following measures: the processing of documents submitted in paper format will commence on the first working day after 72 hours from receipt of such document submissions can be made online via  https://registry.mbr.mt/ROC/ on-site inspections will be held through digital...

FIAU issues consultation document

On 1 April 2020, the Financial Intelligence Analysis Unit (“FIAU”) published a consultation document containing proposed amendments to the Prevention of Money Laundering and Funding of Terrorism Regulations (“PMLFTR”) which seek to address technical compliance shortcomings that were identified by MONEYVAL Assessors during the 5th...

CFE Tax Top 5 (30 March 2020)

This week's edition of the CFE Tax Top 5 looks at the following: Joint Statement of European Council on EU Enlargement & EU COVID Response; EU Commission Publishes Customs Union Roadmap; OECD’s COVID-19 Taxation Measures Toolkit; BEPS Action 6 Peer Review Report on Preventing Treaty...

Submission of Annual Returns and Financial Statements: announcement by MBR

The Malta Business Registry has announced that if a company is effected by the COVID-19 situation and the filing of the annual return and/or financial statements falls within the period of 23.03.2020 and 31.05.2020, no late-filing penalty will be imposed, provided that the said annual return/financial statements are...

MGA extends submission deadlines

The Malta Gaming Authority has announced that the deadline for submission of audited financial statements has been extended to the end of October 2020 for licensees whose last concluded financial year ended, or ends, between December 2019 and March 2020.  Nevertheless, licensees are required to submit...

CFE Tax Top 5 (23 March 2020)

This week’s edition of the CFE Tax Top 5 looks at the following: EU Approves Temporary State Aid Framework; ECOFIN Meeting Conducted by Teleconference; OECD COVID-19 Tax Policy Response Recommendations; EU Plans to Introduce AML Regulation; Global Forum Holds First Peer Review Meeting. Download the full...

Amendment to Subsidiary Legislation issued under the DDTA

LN 68 of 2020, the Adaptation of Subsidiary Legislation (Duty on Documents and Transfers Act) Order, 2020, which was published on 17 March 2020, is a 3-part Legal Notice amending subsidiary legislation enacted in termsof the Duty on Documents and Transfers Act. Part I: amendment to...