LN 359 of 2021 has amended the Fifth Schedule Part 1, adding to the list of zero-rated supplies (exemption with credit) the supply of goods or services to the European Commission or to an agency or a body established under European Union law where the...
Earlier this week it was announced that the Budget for 2022 will be presented on Monday 11 October 2022....
LN 312 of 2021, published on 26 July 2021, has transposed EU Directive 2019/1153 which lays down rules facilitating the use of financial and other information for the prevention, detection, investigation or prosecution of serious criminal offences, including tax evasion....
The Mini One Stop Shop will cease to apply as of today, 30 June 2021. With effect from 1 July 2021, the One Stop Shop (OSS) will apply to local businesses supplying B2C services which take place outside Malta and making distance sales of goods...
On 1 July 2021 a number of changes to VAT legislation will come into effect. These include: The new 'Small Undertaking' thresholds (article 11 registration) will enter into effect (see MIT News 27 May 2021) The VAT e-commerce package will come into effect, with changes...
As of 1 July 2021 the VAT exemption which applies to importation of goods of low value (eur22 or less) will no longer apply. Malta VAT will be due on all goods imported from third countries. Suppliers and electronic interfaces selling goods which are imported into...
The EU Commission has adopted an amendment to Implementing Regulation (EU) 2020/194 as regards the exchange of records held by taxable persons or their intermediaries and the designation of competent authorities responsible for coordinating administrative enquiries. The amendments, which concern rules for the exchange of records...
Fiscal receipts will no longer be required to be issued in respect of supplies of goods and services which take place outside of Malta. This results from the new item 2B to the Thirteenth Schedule to the VAT Act introduced in LN 241 of 2021 which...
With effect from 1 July 2021, with the entry into effect of the so-called VAT e-Commerce package, businesses can use the Import One Stop Shop (IOSS) to comply with their VAT e-commerce obligations on distance sales of goods imported from third countries or third territories...
