Artificial Intelligence (AI) applications have are rapidly permeating and revolutionising various industries, and the tax sector is no exception. Streamlining of processes, data analysis to predict trends, automation of tasks and enhanced compliance through identification of errors are some of the areas which have been...
The MTCA has published a Guideline on the interpretation of one of the conditions for the exemption granted under article 5A(4)(c) of the Income Tax Act on the transfer of a dwelling house. View here....
The guidelines on the application of Article 6 of the Income Tax Act (CAP 123), in terms of which an Investment Services or Insurance Expatriate, as defined, may opt to be exempted from tax on income relating to certain personal expenses, which would otherwise be...
This week's edition of the CFE Tax Top 5 looks at the following: European Commission Launches DAC Evaluation CFE – Accountacy Europe Members’ Only Webinar: New EU AML Rules – What Changes For Practitioners? #UseYourVote – European Elections – 6 to 9 June 2024 EU...
According to reports from the 14 May 2024 ECOFIN meeting, progress was made in the discussions around the VAT in the Digital Age package (see MIT News 8 December 2022), however no agreement was reached. The ViDA package, which is comprised of three parts: real-time reporting...
At the ECOFIN meeting of 14 May 2024, Council reached an agreement on the so-called FASTER initiative which was proposed in June 2023 (See MIT news 23 June 2023). This initiative, aims to make withholding tax procedures in the EU safer and more efficient for...
The MTCA has announced that persons who have outstanding MOSS VAT returns (returns due under the "Mini-One-Stop-Shop" before 1st July 2021), or corrections due to such returns have until 20th July 2024 to submit such returns (or to correct already submitted MOSS returns). After this date, any...
In terms of LN 110 of 2024, no duty shall be levied under the Duty on Documents and Transfers Act (CAP 364) on the grant of temporary emphyteusis over a designated property by SportMalta to a sports association....
The Institute of Financial Services Practitioners (IFSP), the Malta Institute of Accountants (MIA), the Malta Institute of Taxation (MIT) and the Society of Trusts & Estate Practitioners (STEP – Malta) have issued a joint statement, expressing their deep concern about the current situation in the...
