The Patent Box Regime (Deduction) Rules, 2019 were published in virtue of LN 208 of 2019. They apply to qualifying income derived from qualifying intellectual property ("qualifying IP") on or after 1 January 2019. The rules set out the conditions which must subsist for the application of the deduction permitted...
The Office of the CfR has issued guidelines on the VAT exemption in terms of item 5 of Part 2 to the Fifth Schedule of the VAT Act, which applies to services relating to sports supplied by non-profit making organisations. The guidelines clarify that the exemption,...
The Office of the CfR has issued guidelines on the VAT exemption in terms of item 11(4) of Part 2 to the Fifth Schedule of the VAT Act, which applies to welfare services supplied by a Government Institution or an institution/organisation recognised as a non-profit...
The MAP Guidelines published on the website of the Office of the Commissioner for Revenue have been revised. Specifically, the text under the heading: “Suspension of Collection of Tax During a MAP” has been replaced to reflect the amendment to article 41 of the Income...
The Tax Accounts (Income Tax) Rules have been amended through LN 194 of 2019, published on 6 August 2019. As a result of the amendment: Profits derived through the application of the participation exemption in terms of Article 12(1)(u) of the Income Tax Act (ITA) are...
The convention signed between Malta and Kosovo for the avoidance of double taxation and the prevention of fiscal evasion with respect to taxes on income was published by virtue of LN 168 of 2019. The Convention will enter into force with effect from such date as...
A guideline issued by the Office of the CfR clarifies that, for the purposes of article 42(1)(b) and article 47 of the Duty on Documents and Transfers Act, the term “company” shall include a partnership. Furthermore, references to the transfer, acquisition or disposals of marketable...
On 11 July 2019, the Office of the CfR published updated guidelines on the Notional Interest Deduction rule. The updated guidelines include a new paragraph ‘xi’ which is applicable from YA2020: “(xi) Accounting Periods other than 12 Months To further approximate the neutrality between debt and equity financing,...
