Further to the announcement in the October Budget Speech, the Ministry for Finance and Employment has launched the grant scheme in connection with the restoration and finishes of privately owned residential properties within Urban Conservation Areas, properties that have been built for more than 20...
On 7 December, EU finance ministers reached an agreement on the changes to the current rules governing VAT rates for goods and services. Further to the Commission's 2018 proposal to reform the VAT Rates rules, aimed at giving Member States more flexibility in rates-setting, the agreed package...
The EU VAT Gap for 2019 has been published, showing a decrease in the overall EU VAT Gap by almost €6.6 billion to €134 billion. The VAT Gap study records the difference between the VAT due and the actual VAT revenues generated by Member States, representing...
Guidelines issued by the VAT Committee pursuant to the April 2o21 meeting have been added to the VAT Committee Guidelines. The new guidelines address: The return of goods placed under call-off stock arrangements The place of supply of interactive sessions filmed and broadcasted in real time...
The European Commission has published the 2022 version of the Combined Nomenclature (CN codes), which reflects the latest version of the Harmonised System (HS). The Combined Nomenclature inter alia determines which rate of customs duty applies on the importation of goods. source: ec.europe.eu...
As a Member of the EU Commission's VAT Expert Group, the Malta Institute of Taxation, represented by Sarah Cassar Torregiani, is participating in the Fiscalis Meeting on VAT in the Digital Age. Representatives from Member States tax authorities, select industry stakeholders and Members of the VAT...
Following the Minister for Finance’s budget speech delivered on 11 October 2021, a Bill entitled “An Act to implement Budget measures for the financial year 2022 and other administrative measures”, detailing some proposed amendments to the relevant laws, has been published. The Bill can be downloaded from...
In his Budget Speech for 2022 the Minster for Finance and Employment yesterday announced a change to the administrative practices around the granting of a remission for interest on overdue taxes pursuant to SL 372.26. In terms of the legislation the Commissioner may only remit interest...
Earlier this evening the Minister for Finance and Employment, the Hon Clyde Caruana, delivered the Budget Speech for 2022, which put social measures and measures addressing sustainability at the forefront. The following is an overview of some of the fiscal measures announced: An increase in the...
