Various Revenue Acts Bill

Bill 199 published on 25 February 2021 proposes a series of amendments to the following legislation: Income Tax Act Income Tax Management Act Duty on Documents and Transfer Act Value Add Tax Act source: legislation.mt...

REQs 2021

The 2021 Risk Evaluation Questionnaires (“REQs”) will be available for completion by subject persons as from 1st March 2021 on the Compliance and Supervision Platform for Assessing Risk (CASPAR) System. The submission deadline for Tax Advisors is 21st April 2021. A copy of the revised 2021 REQs per...

Procedure for submission of share transfer notices

The Commissioner for Revenue and the Registrar of Companies have announced that documents relating to share transfers, changes in issued share capital/voting rights of companies and other commercial partnerships where applicable, and transfers of interests in partnerships, requiring registration by the ICTU, are to be delivered to...

2020 FSS end-of-year documents

The deadline for submission of the FS3 and FS7 is 15 February 2021. The Office of the CfR has notified that employers submitting more than 9 FS3 documents are obliged to file electronically, whilst employers submitting less than 9 forms can submit electronically or manually. Manual FS7 and...

Customs guidance on low value imports

A Customs Guidance Document on the Importation and Exportation of Low Value Consignments has been published. This aims to complement the VAT Explanatory Notes published in September 2020 (see MIT News 1 October 2020) with further clarification and practical examples on the customs rules and...

Taxes in Europe Database

Earlier this week the Malta Institute of Taxation participated in the 28th Meeting of the EU VAT Expert Group during which the Commission presented the Taxes in Europe Database - an online Database which offers structured information on around 650 taxes in the EU (including...

CFE Conference on Taxpayer Rights and Legal Certainty in the Digital Era

The CFE 13th European Conference on Tax Advisers’ Professional Affairs on the topic “Taxpayer Rights and Legal Certainty in the Digital Era” will take place ONLINE via Zoom on Monday 30 November 2020 from 3:30 to 5:00 CET. "The webinar conference will welcome tax experts and...

Extension of the Urban Conservation Area property scheme

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...

Amendment to first time buyers duty exemption

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...