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...

VAT – Transactions in goods with Northern Ireland post Brexit

The Fifteenth Schedule to the VAT Act has been revised (LN 477 of 2020) with effect from 1 January 2021 to bring into effect the provisions of Directive 2020/1756 amending Directive 2006/112/EC with regard to the identification of taxable persons in Northern Ireland further to...

Commission proposal to allocate decison-making powers to VAT Committee

Further to the European Commission's consultation on the a proposal to turn the VAT Committee into a ‘comitology committee’ (see MIT News 4 October 2020) the Commission has presented a proposal for a Council Directive amending Directive 2006/112/EC as regards conferral of implementing powers to the Commission...

Converting to ‘small undertaking’ status for VAT

Pursuant to LN 463 of 2020 the conversion from an 'Article 10' registration (standard) to an 'Article 11' registration (small undertaking), may now be made after the lapse of a full 24 calendar months, replacing the 36-calendar-month requirement. Furthermore, the revised Sixth Schedule of the...

Changes to the VAT small undertaking thresholds

Further to the announcement in the Budget Speech (see MIT News 21 October 2020), LN 463 of 2020 has introduced changes to the Sixth Schedule to the VAT Act in connection with the 'small undertaking' thresholds. Once the changes enter into effect, there will be two...

EU approves VAT exemption for covid vaccines and testing kits

New measures have been adopted which will allow EU Member States to put in place a temporary VAT exemption for vaccines and testing kits being sold to hospitals, doctors and individuals, as well as closely related services (see Commission Proposal of 28 October 2020). Currently, Member...

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...

Malta authorised to apply increased threshold for small undertakings till 2024

In terms of Council Implementing Decision (EU) 2020/1662 of 3 November 2020 Malta's request to continue to apply a special measure derogating from Article 287 of Directive 2006/112/EC, and to increase the threshold for small undertakings, was acceded to. To date a €20,000 threshold applies to...