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...
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...
The European Commission has published the latest version of the Combined Nomenclature (CN), the tool for classifying goods, which determines which rate of customs duty applies and how the goods are treated for statistical purposes. The latest version, which applies from 1 January 2021, is available as...
The Budget Measures Implementation Bill (Bill 173 of 2020) has proposed a series of amendments to the Duty on Documents and Transfers Act (CAP 364), including, an amendment to the definition of the term "Document". The term, which is currently defined as including as a "policy of...
On 19 October 2020 the Minister for Finance and Financial Services, Prof. Edward Scicluna, delivered the Budget Speech for 2021. The following is an overview of some of the social measures announced: Cost of living increase of €1.75c; An additional day of leave for employees; Children’s...
Earlier this evening the Minister for Finance and Financial Services, Prof. Edward Scicluna, delivered the Budget Speech for 2021. The following is an overview of some of the fiscal measures announced. Tax Refund In 2021, eligible persons will receive a tax refund in an amount ranging from €45 to...
The OECD has published a report, with the participation of over 50 countries, which analyses the approaches and policy gaps across the main tax types (income, consumption and property taxes) in these countries in connection with virtual currencies. Taxing Virtual Currencies was prepared for presentation to the October 2020 meeting of...
The Office of the CfR has updated the guidelines concerning the deferral of certain taxes, one of the measures announced in March 2020 to assist businesses that suffered a significant downturn in their turnover as a result of the economic constraints arising from the coronavirus pandemic. The...
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....
